Tuesday, May 21, 2013

Yen Should Be Kicking In as Well

The Yen moving up should put added pressure on the market, I'd prefer to see it later in the day, unless it carries through the whole day in which we may have a very interesting change of character on our hands-the trend...

Here's the Yen indications... *These are all intraday 1 min charts...

Yen futures with a positive leading divergence about to reverse to the upside after fading overnight.

The USD/JPY also looking to reverse on a negative divergence

The EUR/JPY also has already reversed on a negative divergence at the overnight highs...

As has the AUD/JPY as suspected in both cases last night, this is all Yen positive which is market negative.

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