We’ve been accurately forecasting USDJPY for over 12 years, starting with recognition of a falling wedge that yielded a huge breakout in 2011 [see: USDJPY – How Low Can it Go?] and evolving to an understanding of the importance of the Yen Carry Trade. The Japanese economy is a hot mess, but the chart patterns … continue reading →
Tag Archives: currencies
EURUSD and DXY have officially tagged the targets we set for them several months ago. Recall that in the Mar 7 Update on Currencies, we noted that the Ukraine invasion could accelerate DXY’s next leg up. The yellow .707 at 106.276 and white 1.272 at 106.741 both intersect the white channel top in late 2022 – … continue reading →
BTC reached our next upside target at 29,890-30,108 [see: Dec 22 Update on BTC.] Had it remained in either the rising pink or purple channel, it might have taken quite some time. But, as we discussed last month, it broke out of both channels and topped the Fib target at almost exactly the time forecast … continue reading →
As the currency turmoil continues, it’s interesting to note that cryptocurrencies are having a worse go of it than EMs. Meanwhile, futures dipped enough overnight to finally backtest the SMA10. They’ve since rebounded enough to backtest the broken red channel. It remains to be seen whether SPX will join in and backtest its SMA10 and … continue reading →
Lots of excitement in the currency markets this morning — particularly the yen. The USDJPY plunged rather decisively to our nearest downside target… …after stories appeared in the financial press that the BoJ was embarking on a buying spree, offering to buy “an unlimited amount of bonds.” Why would they do such a thing? Yields … continue reading →