The late Friday rally of the USD carried the pair through our sell at 98.60, and we are going to risk a 100 points on this trade. With lower global equity markets this morning the yen has gained against most currencies, but so far not the dollar. Last week's yen weakness may have been more of the Japanese wanting a weak yen to stimulate exports rather than dollar strength. The economy watchers sentiment report released this morning showed a poor sentiment but not getting worse. Though the dollar has been higher versus the yen, we think the rally has gone about far enough.
