Over the weekend we gapped into the area of 110.5 where we have trendline resistance, previous structure and the .618 fib level. I got short at 110.4, which I closed out earlier. I am now short again at 109.8 with a stop at 109.99. Expecting further downside. Check out some of my finance articles including one I just wrote about a Forex hedge fund @ anyhows.com
Looking to confirm my EURJPY short with this Yen futures contract signalling a possible short of 0.87575
USDJPY has hit the previous monthly uptrend mode, and is currently stuck inside this zone. It would be a colossal feat, for Yen bulls to drive the pair under this key level, so I will watch it with keen eyes during this week. I'll update the post with intraday and daily/weekly charts as needed. It would give us clues about the future of the S&P500 and Nikkei, if...
Out of upper d/t BB, hid bearish momo div
The Yen is sitting near an important trend line going back to late 70's. Could be near an important turning point. A break in the current downtrend similar to 90' and 98' could be the start of an extended rally in the yen. FXY is the corresponding ETF to watch.
The J6 has returned to the scene of the crime and has kissed it good bye. A breach of the 8388 are and we will goto a lower time frame to look for a trigger. This will support higher equity prices.
The J6 has broken out of it's pattern. This is bullish for equities and could place pressure on the indices. See our weekly outlook: youtu.be