Charts I’m Watching: May 31, 2016

Lots to examine today.  Futures are up 3 points, but the bigger development is that DX and USDJPY have reached the upside targets we set for them several weeks ago.  We’ll start with DX, which after losing trend last week, came back and tagged the top of the falling white channel.2016-05-31 DX 4 0610 USDJPY has reached almost as important a level of resistance — the midline of the channel that has guided its downside for over a year.

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