The USD/JPY pair broke higher during the course of the session on Monday, but did not cleared the resistance that we have seen over the last several sessions. With that, if we can break above the 118 handle, we feel that this market will then head to the 120 handle. In that general vicinity, we do anticipate seeing quite a bit of selling, but recognize that ultimately this market is in an uptrend, and it could very well break out fairly soon. Regardless, we have no interest in selling, and believe that ultimately the uptrend should prevail.
