The USD/JPY pair initially tried to rally during the course of the day on Friday, but found the 120 level to be a far too tough of an opponent to take out. Because of this, we feel that the market should continue to bounce around in this general vicinity, and with that we are playing the range between the 118.50 level on the bottom, and the 120.50 level on the top. The market continues to be very confused, so therefore we anticipate seeing quite a bit of volatility in the near term.
