USDJPY

The US dollar has fallen hard during the week to reach the ¥127.50 level. However, we have turned around to show signs of life again, and now we have ended up forming a bit of a hammer. That being said, the ¥130 level continues to be a bit of an issue, so I think we are more likely than not going to continue to see a lot of sideways trading, as we need to digest some of the excess froth from the parabolic move higher.