Seen This Movie Before

As CL continues to tread water, USDJPY is doing its best to pick up the slack.  But, investors know the yen carry trade is a mere shadow of its former self.

Kuroda’s most recent comments reveal the BoJ, like the ECB, has lost the ability to make us believe.  It is reduced, instead, to blatant currency manipulation.  Now, even that manipulation has become suspect.

Here’s the breakout which is supposed to have bulls jumping for joy.  Futures have responded by giving up 7 points from their overnight highs.  Why?2016-10-25-usdjpy-60-0610

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