The Japanese Yen crosses are mixed today as the Dow continued to give back some of last week’s impressive gains. The only piece of Japanese economic data released last night was the monetary base, which was stronger than expected. There is no data scheduled for release tonight, but that does not mean there will not be any action in the carry trades. Australia and New Zealand’s interest rate decision could shift demand for high yielders, which will have its impact on the Japanese Yen. Also, keep an eye on the Dow because the decline today stopped short of an important technical support level. If that level is broken, we could see sharp losses in US equities.