The Yen has depreciated 70% + since 2001 against the Euro.kepp this in mind when reading further. ####The Yen started reversing on the Rand, in terms of Demand and Supply back in May2006 and a new Trend was born:The stronger Yen vs a weaker Rand.If you look at the Point and Figure Daily Chart on this process(anticipative) you will see the Yen-drain was temporarily halted in October2006.Back came the Yen-carry until Feb2007...BUT...the next Step to Weak-Rand on the P&F sees a breakout in March2007.The Bullish Support Line( like a cement wall) for the stronger Yen/Rand is at 60.5 ### Conclusion:At the close today it was at 62.There is minimal upside to the Yen-carry situation right now.If the money is going to stay,Rates will have to go higher to just keep this relationship stable.Currency Trends tend to be of a longer nature than Stock trends....Rates first beagn their rise in June2006..##Now draw your own Conclusions.