Charts I’m Watching: Feb 12, 2014

USDJPY has backtested the broken .236 channel line.  It has recovered  about .382 of its 12/31 high…

…while SPX (1826) and ES (1822) are coming up on their .786’s.

Unlike the Dow, which is having trouble punching through the .500.

EURUSD is showing weakness this morning.  If the 1.355 level doesn’t hold, it’s a long way to the other side of the channel to 1.29.

Update:  3:30 PM

Trouble in store for the Nikkei.  Remember, it just tagged the top of a channel dating back to 1991.

In this close-up, we see that the 2013 leg up recently broke down.  Now, that rising channel has been back-tested and is ready for a reversal.

Just in time to contribute to the USDJPY plunge to below 100 — looks like it could be any time now.

Comments

Charts I’m Watching: Feb 12, 2014 — 1 Comment

  1. Pingback: Charts I’m Watching: Feb 12, 2014 | Traders Flash