The USD/JPY pair initially fell during the session on Monday, but found enough support to bounce towards the end of the day. Were basically hanging around the 102 level, but ultimately we believe that this market does in fact go higher. There’s a lot of noise between here and the 103 level, and that being the case we are essentially not interested in this market at the moment. If we can get above the 103 level, we think that would be ultimately very bullish for this market, and we would be buyers at that point. Selling is something that we have no interest in.
