- A technical pattern which suggests retracement to lower levels. - My theory for the fundamentals behind this trade: - August 24th 2015 was just the the beginning of something much bigger, a shift towards risk aversion which will lead to a stronger yen. - The rapid relief rally following August 24th is due to a willingness to take on excessive risk and leverage for minimal yields based on a lack of adequate investment vehicles due to the market distorting long term 0% interest rates. - The market is so distorted via 0% rates that gradual changes can no longer happen due to the complacency that 0% rates creates, when a change happens e.g. a shift towards risk aversion, it will be in the form of a massive single day crash/mass capitulation.