Ever notice the pre-market futures are VERY different from the regular hours open? That's the game playing and the reason most traders I know won't even start trading until 10:30- 11 a.m. after the initial a.m. games are played.
In any case, that pre-market positive in USD/JPY wasn't that strong and it looks like things are getting prepared for it to roll, like the Yen, USD and Index futures.
USD/JPY chart from earlier / overnight with trend confirmation on the overnight decline and subsequent break of $102, then a weak relative positive divergence.
Now we are seeing how weak the relative positive was as there's now confirmation of USD/JPY here which is moving futures, it's in leading negative position.
The $USDX futures are going negative, not good for USD/JPY and...
The Yen futures are going positive in to their pullback which also isn't good for USD/JPY and Index futures.
These probably have a little more time/ divergence to put in, but I think it gives us an idea of what's coming next intraday... USD/JPY counter trend (overnight) test above $102 should fail and take Index futures with it.
ES intraday futures looked the most like USD/JPY, positive in the same spot, right now they are in line, but looking at the other two, I doubt that in line status holds for much longer.
NQ is at best in line, it does have a large relative negative divegrence and is in leading negative position with no confirmation.
R2K futures look worse, they had a small positive at the same area as USD/JPY and ES, but no confirmation now and a leading negative position.
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