Market Update Charts...

Here are the charts to go with the last market update.

 USD/JPY last night on the USD/JPY / Nikkei 225 Decline and the lows called in both the Nikkei 225 and USD/JPy as positive divergences were already in place, see last night's post, Abe and Kuroda'a QE-Zilla Sends Japan in to a Triple Dipp Recession. I think this post is important in understanding the timing of the rest of the week as well as the MAcro dynamics (size of move and amount of confirmation). Posted @ 11:01 p.m. EDT Sunday night and the lows were just a bit before the post showing small positive divergences expected to lift the market in to the cash open this morning.

 USD/JPY now 1 min, same as the last.

As usual the $USDX and Yen (/6J) are part of any currency pair analysis, a big part.

The $USDX intraday today falling apart, just as it was positive at last night's lows.

And the 5 min Yen chart (now migrated to 5 min), positive just as it was negative at last night's highs, also a reversal process in place.

All of the above suggests lower USD/JPY prices.

And ES intraday in line and negative. This is confusing looking as the SPY is only up +0.05% and the trend looks like a lot more, remember, ES/SPX Futures last night hit lows that wiped out all of last week's trade until Monday, in other words, ES Futures were below Tuesday-Friday's lows, so it had a long way to come up to open near unchanged which was the 3C signal from Friday, again showing the concept that 3C picks up where it left off, even over 3-day weekends and huge overnight moves.