USDJPY Periodic Breakout
Updated
Looking back to April the recent rise is representative of the rally period and value, this coincides with a resistance level formed (below the 114 seen in the past six months) in the last few days and it triggers a breakout.
Fundamental analysis: Yields are high and equities are still rising, the Yen takes a kicking in these circumstances and continues to be bullied by those moving money to take advantage of market conditions elsewhere. Stay glued for any impact from election news between now and 22 October. Note political wranglings are not likely to have as big an impact as between other pairs.
Fundamental analysis: Yields are high and equities are still rising, the Yen takes a kicking in these circumstances and continues to be bullied by those moving money to take advantage of market conditions elsewhere. Stay glued for any impact from election news between now and 22 October. Note political wranglings are not likely to have as big an impact as between other pairs.
Note
Lots of chatter about to come up in the US which should compound the fall; we're seeing a bit of pre-release slippage, perhaps from closing positions before the announcements.Note
06/10 wobble which hit the stop but otherwise solid(!?)
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