All things being equal, this is a market that I think remains bullish due to the idea of the Bank of Japan continuing to do whatever it takes to keep interest rates down.
The USD/JPY has pulled back just a bit during the trading session on Thursday as we continue to wait for Jerome Powell to bloviate at Jackson Hole, Wyoming on Friday morning. He will give a statement/speech that will hopefully give people a bit more clarity as to what the Federal Reserve is going to do. If history is any indication, he will say one thing, while the market will interpret the exact opposite. This man is horrible at his job.