Technician
Short

USDJPY: A Bad Omen for the Stocks Market

FX:USDJPY   U.S. Dollar / Japanese Yen
4054 23 122
A bearish breakout would be a bad omen for the stocks bulls. And would confirm my bearish view for the stocks market.
We have broken below the main long term rising trend line recently, a follow through the major support level around 115.50 would be seriously bearish for the pair and for risk around the globe.

More about the stocks market in the related ideas below.
Also check out is risk here to stay? and Three economic indicators warn of a recession!

Best Regards,
Technician
http://thefxchannel.com/
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out of curiosity, could it be possible that pair breaks below long term supports (as it has) and then bounces back above? Would it not make sense that it is unlikely and it falls back down to 105 level? Thoughts?
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Technician tradestocks101
Ofcourse It can do that.
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Thanks tech. What do you think would happen if it breaks below 115.50 (as it has) but then moves back above it?
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Technician tradestocks101
Lets wait for the weekly closing as this is a long term support level
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Did you know there was a hike in last Dec? did you see the strong job report last Friday? and 105.50 level? hum....
+1 Reply
Technician FXSayWhat
It already fell almost 1000 points since then. These are old stories, look into the future.
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Agreed sir, capital inflows into Yen and Gold is a bad sign for stocks. I believe that last friday's weekly close was a nail in the coffin for the Nasdaq.
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smitheric1970 smitheric1970
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Technician your analysis is always great. My current analysis is
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Thx and good luck
+1 Reply
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