The USD/JPY pair did something on Wednesday that it hasn't done lately - it stayed down. The previous candles have all bounced slightly to form hammers. This could signal that the pair is ready to fall again, but this isn't a free market presently. The Bank of Japan looks to intervene (in our opinion) if the pair falls below 76.
The EUR/JPY formed a doji just above the 110 level on Wednesday, and gives us an easy signal to follow.....if we break above the range of the Wednesday candle - we buy. If we break below - we sell. Of course, if the BoJ intervenes it will be a direct result of the USD/JPY falling, so make sure it isn't melting down when you put a position on.
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