Technician
Short

USDJPY: A Bad Omen for the Stocks Market

FX:USDJPY   U.S. Dollar/Japanese Yen
3935 23 120
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
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Olu
10 months ago
Thanks for the idea. I saw the chart pattern and agree with you that if comfirmed will spell disaster for the stock market. As a TV friend of mine - My Lobster says ' Release the kracken'. It would be very bad. I have a target of 109 if confirmed. We might be reaching into intervention area though by then

+1 Reply
pardis
10 months ago
thanks tech...as usual u r the best....and its my idea on daily
snapshot
+2 Reply
Technician TOP
10 months ago
Thanks Buddies.
I want to stress on the point that we need to see a break first.
+1 Reply
Olu Technician
10 months ago
Thanks Technician. We must get a breakdown first. There is no point selling into a bounce or a recovery. the downside if confirmed is enough to lose the highly speculative first 75pips or so
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jhakas Technician
10 months ago
agree..! uj and spx500 still coiling around supports but still holding.. spx500 holding 1870 and has been tested 3 times but everytime pushed above 1900.. but 4th test of 1870 indeed dented some bullish push.. as now spx500 @ 1881.. if anyhow break of 1870 in spx500 then i see 1st sign of uj to crack 116.. and if holds and went up above 1900 then i see uj towards 120 again..
+2 Reply
Olu jhakas
10 months ago
Hi JHakas. Well done on that Nzd trade. Applause. Applause. Applause
+1 Reply
jhakas Olu
10 months ago
thx.. nfp given nice retracement in nzd.. so another buy opportunity..
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moorekapital PRO jhakas
10 months ago
tRUE, THAT ONE
+1 Reply
moorekapital PRO Technician
10 months ago
eXACTLY!
+1 Reply
Michelok PRO
10 months ago
Stocks might correct soon imo (maybe next week). But i dont think there is a 1:1 relation between that and the USD. Global carrytrade etc might still cause it to rise on longterm. In general USD was stable or rose in the last 2 crashes.
Reply
Csys
10 months ago
Agreed.
USDJPY weekly TA
+1 Reply
zerrow
10 months ago
If the price goes there it means it isn't wave 3. just wave 1 extension.
Reply
HumbleTraders
10 months ago
Agree. Looking at C.O.T data. Non-Commercials are NET LONG ON JPY first time since 209 or so? This is a big one for 2016.
http://humbletraders.com/commitment-of-traders-report-week-5-2016/
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NTrading
10 months ago
Technician your analysis is always great. My current analysis is
snapshot
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Technician TOP NTrading
10 months ago
Thx and good luck
+1 Reply
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.
Reply
smitheric1970 PRO smitheric1970
10 months ago
snapshot
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FXSayWhat PRO
10 months ago
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 TOP FXSayWhat
10 months ago
It already fell almost 1000 points since then. These are old stories, look into the future.
Reply
tradestocks101
10 months ago
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 TOP tradestocks101
10 months ago
Lets wait for the weekly closing as this is a long term support level
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tradestocks101
9 months ago
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 TOP tradestocks101
9 months ago
Ofcourse It can do that.
Reply
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