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The JPY has weakened nicely pass the 103.00 level.

I believe there’s probably alittle more room to move upwards, so I am placing a take profit level at 103.00 and continue to carry the spot position.

If the JPY continues to move southwards, I may consider writing options as a strategy of placing a take profit level and at the same time earn some premiums.  I will come back to all of you to explain this strategy.

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