Loading ...Yen looking to break down…
The yen is on the cusp of breaking year long support and beginning another downleg. This is all materializing after the Fed announced an end to the tightening cycle and possible rate cuts, while the BoJ just ended QE and YCC. Go figure.
A tanking yen is going to buttress USD and should put the brakes on any commodity and/or metals advance. I’m not saying it’s impossible for commodities to rally, just that any appreciation will be muted at best as the yen begins another one of its waterfall declines.
FXY already made a new low.
But in the process, its forming positive divergence on monthly MACD (at least on my alternate settings).
Yes, more downside but I’d be surprised if we see a waterfall here.
I’ll post a yen count if I spot a well crafted one.
Waterfall decline likely, once WAR scenario becomes obvious.
Japan near Korea and China.
Inside capital, with inside knowledge, is starting to leave Japan.
This money knows what is being planned, and so what is coming down the pipe.
WAR!