22 January 2008 - 14:30Trading Advice 1/22/08

Today’s emergency action by the Fed has obviously halted the recovery that was occurring in the dollar. The only thing keeping USD/JPY above key support right now is today’s rally in the stock markets. In my mind it is still by far the best buy out of all the major currencies. USD/JPY just failed 107 and seems destined to try 105.72 again soon.