Currency traders have edged the US Dollar better against the Japanese Yen in what has been an otherwise uneventful trading morning. At the time of writing the USD/JPY spot is trading at 118.65. Currency traders will have in mind a series of targets depending on their time horizons. The immediate target is around 118.80 which would equal the high trades of last Friday. The next target for the Dollar bulls would be 119.30, which would take us near the highs of the 2nd February. That is about as far as the day traders would expect to be looking for today. Longer term traders however will have their charts out looking for previous highs and technical levels. A target of 119.95 would equal the high seen in late November 2005 in the Japanese Yen . A target of 121.40 Japanese Yen against the US Dollar would equal the 2005 high. With a US holiday on Monday for Presidents Day, trading could be thin with day traders promoting a touch of volatility in the fx markets.