The US dollar initially fell slightly against the Japanese yen, showing signs of support near the ¥147.50 level, and rebounded. At the moment, the market looks like it is ready to continue the general uptrend and so we have a situation where buyers continue to enter the market based on value. That being said, keep in mind that the jobs number data is coming out today, and of course it is likely that it could cause a lot of volatility.

That volatility could give us an opportunity to raise some value, as the U.S. dollar will be well supported by the Federal Reserve’s hawkish stance, and of course the Bank of Japan will continue to do its best to keep interest rates at 0.25% on the 10-year note. As long as that is the case, it is likely that they will have to flood the market with Japanese yen, thereby destroying the value of the Japanese currency.