875 should be the next resistance to come under attack from the bulls. However, if that gets pulled down, could we go up as high as 895?
Sorry if this sounds downright condescending, but you shouldn't short the damn market when the buying momentum is rearing its friggin' ugly head like this afternoon. That's like trying to catch a falling knife on a day like yesterday. It's a lose-lose situation.
Not necessary ... BOJ indicated clearly they "prefer" dollar yen at a higher level and that they will (and had) acted to support the currency when they deem that is needed. The 820, 840, and 860 longs are likely mutual funds late buying to jump on board. As I mentioned before, enough buying of the underlying can enforce an updrift.