USDJPY’s Triangle Breaks

NKD finally tagged our next downside target yesterday, enjoying a huge 5.3% bounce afterwards.2015-09-25 NKD daily 0615It was made possible by USDJPY.  It’s been a month since USDJPY began forming the triangle that has whipsawed markets on a daily basis.  Yesterday, after the US close, it broke out. But, it’s not out of the woods just yet.

Note that it’s still being constrained by the SMA200 — which means SPX might not go anywhere after this morning’s initial pop.

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