Once again, we're seeing a wild ride in the equity markets as well as continuation of further dollar losses. All signs are pointing for continuation. Just an hour ago, employment figures out of Australia blew away expectations and the currency is now heading up to the 88 cent level, helping the other majors gain ground vs. the buck. The only currency out of the bunch that we expect to lose ground is the Japanese Yen, which saw a huge rally over the past few weeks. We think the USD/JPY has found a bottom at 87.50, we're now looking for long positions only. A move below 87.50 will alter our analysis and we'll have to reevaluate the market.
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