The USD/JPY pair fell during the bulk of the week, testing the 101 level yet again. This level has been supportive for quite some time though, essentially the entirety of the year 2014. With that being the case, the market could bounce from here and that’s essentially what we expect. However, there really isn’t anything in the way of a long-term signal as far as we can see, but we certainly wouldn’t short this market. We think short-term traders will continue to move this market, thereby leaving it difficult for longer-term traders to be bothered with.
