ctpelot

USDJPY a telling sign for US Equities

FX:USDJPY   U.S. Dollar / Japanese Yen
27 3 1
Given the extremely high correlation between the USD/JPY             pair and the S&P 500             , this chart could give us a heads up as to where US Equities are going. I will be watching this coiling pattern very close for a break up or down.
It is a bear pennant, symmetrical triangle.
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ctpelot claydoctor
@claydoctor I agree, it is a symmetrical triangle - I was using some "slang". The expected measured move on this breakout would be equal to the height of the triangle + the apex of the triangle.
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ctpelot ctpelot
or should I say the expected target is = to the height + apex. The expected move would the height.
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