The USD/JPY pair initially fell during the session on Tuesday, but continues to find support just above the 110 level. By doing so it looks as if we are going to consolidate overall, somewhere between the 110 level and the 112 level above. With this, I think that short-term trading is about as good as it will get as we are range bound. A breakdown below the 50% Fibonacci retracement level should send this market down to the 108 handle after that. Ultimately if we can break above the 112.50 level…