The US dollar continues to grind higher against the Japanese yen but be aware that the 160-yen level is an area that the Bank of Japan intervened at previously and it could cause a little bit of the same type of action. We’ll just have to wait and see. So far, the Japanese have been fairly quiet. So only time will tell.

That being said, if we do get some type of pullback, I am willing to buy dips on the right-hand side of the V to make sure that I am following momentum re-entering the market. I have no interest in selling this pair. The interest rate differential, despite the fact that the interest rates fell in America, continue to favor the US dollar by quite a wide margin.