monday market malady, page-62

Farsight - have a look at the US dollar/Yen chart. Fifteen minute chart looks as though it is trying to form a base (not confirmed yet) or in other words, the yen should weaken which would be good for the carry trade. The daily chart looks very oversold - again suggesting that the dollar could strengthen against the yen. I believe the yen carry trade has been the key for the past few weeks and will continue to be. Mind you I am only thinking fairly short term at the moment.