The dollar has turned a corner against the yen, Robin Griffiths, technical strategist at Cazenove Capital, said Monday.
"The rally in the dollar has got further to go," Griffiths said, adding that the yen's upward trend looks to be over as Japan's new finance minister appears to have a different agenda from the previous minister's.
"All markets are going to go a little higher for a little longer. But the place where markets are going to make new highs has always been in the emerging market space," Griffiths told CNBC.
Emerging markets are "dramatically more volatile than our Western markets" and that is likely to persist, he noted.
"The shorter-term swings are brutal," Griffiths added.
Turkey's stock market may make "a new all-time high breakout," he predicted.
London ICE Brent crude looks to be going up, as will the "whole commodity space," according to Griffiths.