Just as the AUDUSD
had a remarkable correlation that lasted many years, this correlation is the new, hot pair. Oddly enough, now I will feel compelled to watch this unusual pair and see what I can learn and derive from it's existence. By the way, I learned of this from a neighbor and I can't take credit for finding it but I'm happy to hear your thoughts on what it means and whether it will continue to correlate or not.
I'll call this a "long" position for GBPJPY
to catch up a little to SPY
. The SPY
is pushing new highs over these past few months while GBPJPY
is making sideways price action since Year-End 2013.
There are notable differences in the charts and I hope that the markets don't keep just blindly following each other.
This also reminds me of AMZN
, right before they went different ways.