Top: CAD/JPY on a
Middle: USOIL on a
Bottom: NKY on a
Additional: The same pattern can be found on multiple charts and markets, including and HSE. The weekly crude oil inventory report will be released on March 23rd.
I can see the Japanese Yen gaining strength, comparing other currency pairs such as GBP/JPY and EUR/JPY paints a picture for direction. In addition there is always a fear for crude oil at around 40, this chart relates heavily to my idea posted on crude oil earlier this week, taking the formation of a . You can view this in the link below!
Feel free to leave any additional analysis on this idea.
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