The USD/JPY why pair fell during the course of the session on Thursday, after initially trying to rally. However, what is most important is that we broke down below the 102 level, which of course is supportive. There is still quite a bit of support below though, so we feel that selling still can’t be done. We are looking for some type a supportive candle below in order to start buying again, as we continue to meander around the larger consolidation area that we have been in for some time now. We still believe that the 101 level is supportive.
