The USD/JPY pair went higher during the session and broke through the 105 level as we start to see real strength in the US dollar overall. Because of this, we think that every time this market pulls back now, you have to think of it as a potential buying opportunity. There is no interest in selling this market as far as we can tell, and we believe that it is heavily supported and could be one of the better performers for this fall. We ultimately believe that the market will go to the 110 level, but that’s a longer-term call of course.
