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Tuesday, November 07, 2006
A Note on the Yen
As you know I am basically bullish on the dollar-yen. Yesterday the market moved above the 118.10 level early in the day so I concluded that the yen had started its move to 121.00. But today the yen has moved decisively back below 118.10 so I am going back to my original downside target for the reaction at 116.10.