It is too early to get spend too much time on the Yen at this moment, but suffice it to say, I see a few things that suggest the Yen made a parabolic move this a.m. and it may be ready to reverse, this would also hold a lot of importance for the market as well. I see a hiccup in the AUD/JPY, EUR/JPY and USD/JPY while the AUD/JPY is a little different, there's not much movement in the $USD or EUR on their own, so the Yen looks to be the potential mover in the pairs, that would be Yen strengthening.
For now I'll only post this chart of the intraday YEN futures as to not spend too much time writing when I should be watching.
There are also signs of Euro weakness and improving $USD strength, these all would pressure the market.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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