The US dollar has jumped against the Japanese yen yet again during the trading session here on Monday as we are threatening the 160-yen level. I do believe it is probably only a matter of time before we do breakout, and this breakout is going to be a big deal.

It will have traders looking at the market through the prism of a breakout that goes all the way back to 1990. This could lead to a multi-year move. In the short term, though, it is probably more likely than not that we would see a little bit of a pullback. That pullback for me opens up a lot of value, especially if we see a drop and a bounce near the 158-yen level.