USD/JPY (-30)

with strong numbers for USD from Housing Starts 0.63M vs. 0.6 expected and Building permits 0.69M vs 0.63M expected dollar is starting to mark gains on USDX index. USD/JPY made a double bottom and "cemented" the floor so it is ready for the move up, with low risk in case of a failure. RSI indicator is marking a divergence in a price and giving us signal to initiate long position. Support comes in at about 92.57 and recent lows are just bellow that. Stops should be placed bellow 92.45 and targets should start 93.20. University of Michigan consumer sentiment at due at 9:55 E.T. and are expected to be positive 74.7 vs 73.6 so it should provide additional wind for the move higher from fundamental side.