Note: for those wondering, ThinkorSwim did a major update over the weekend — which means that our color scheme options were changed. I’m trying this one out today — but, the jury is still out.
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USDJPY toyed around with breaking out of its triangle on Friday (purple lines below), but ultimately failed when it ran into the SMA200 — leading to a nice pop and drop opportunity we discussed early in the morning.
Note that it’s still being constrained by the SMA200 — which means SPX might not go anywhere after this morning’s initial pop.
SPX gained 20 points in the first half of the session, only to give back 30. Now that USDJPY has retested the .618 at 120.11, we’re left to wonder how long it’ll take before it breaks out for real.
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