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The US dollar<\/a> initially fell during the course of the training week, only to turn around and show signs of life against the Japanese yen. If we were to break above the \u00a5147.80 level on a daily close, then I think you will see the Japanese yen continue to break down against not only the US dollar, but probably even other currencies. All things being equal, this remains a \u201cbuy on the dips\u201d situation, and therefore I think we have a bullish market that\u2019s just looking for another reason to go higher.<\/p>\n<\/div>\n<\/div>\n That reason might be the next interest rate announcement coming out of America, but there are a lot of questions as to whether or not we are going to see an interest rate hike, or if it will just simply be a situation where we have a hockey statement. Either way, it looks like the US dollar will continue to go higher.<\/p>\n If we break down below the bottom of the candlestick for the week, that could be a very negative turnaround, opening up the possibility of a move to the \u00a5142.50 level. That is the \u201cfloor in the market\u201d at the moment, so therefore I think that the market breaking down below there would have me rethinking the entire situation. That being said, I don\u2019t think that happens anytime soon, and we are more likely to test that \u00a5150 level. Once we break that, then we could threaten the all-time high, and perhaps even run on an even bigger leg higher, perhaps to the \u00a5155 level.<\/p>\n All things being equal, I do think that the \u201cbuy on the dip\u201d strategy continues to be the way forward, despite the fact that the Bank of Japan Gov. Ureda recently tried to talk the market back down.<\/p>\n For a look at all of today\u2019s economic events, check out our\u00a0economic calendar<\/a>. <\/b><\/p>\n<\/div>\n<\/div>\n