USD-JPY – Intraday Take 17/07/08

I’m longing the dollar at 105, after exiting a short position last night. MA crossover at 105 (even though I’m not a big fan of moving averages, I am starting to employ these as a gauge), and there’s good support at the 104 levels. Given the sudden correction or selloff in commodities (the CRB is at -1.27%), the dollar might see a quick rebound further into the 106 region for today. (in my view anyway)

Let’s sit and watch the show.