If stars align, risk aversion should continue supporting a potential short in the equity markets along with a weaker USDJPY, and stronger USD across the other majors. While I'm not taking a short just yet, this is just a setup that I will be monitoring over the next few weeks. Fundamentally, there aren't many reasons for equity bulls to keep pressing higher highs, and any negative news could quickly spiral the into a selling frenzy.
ForexUSDJPY

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