BoJ Takes the Reins

In a maneuver that epitomizes the degree of control central bankers still have over “markets,” the USDJPY landed precisely at the apex of the Pennant Pattern that governed it fpr two month the August 24 meltdown.This, on the heels of Japan’s worst export data in over a year — more proof of Abenomics’ abject failure, and more fodder for the QQE expansion expectations.