Three Down, Two to Go

The third of our Dec 3 year-end targets [see: Update on Currencies] has been reached.

USDJPY: 120.05
EURUSD: 1.22635
DX:  90.272

DX just tagged our 90.272 target a little ahead of schedule.

2014-12-23 DX daily 0605Recall that this represents the 38.2% retracement of the Big Drop from 121 in 2001 to 71 in 2008.

2014-12-23 DX wkly 0620The spike in DX means our forecast for a rally through the major .618 for USDJPY is also playing out.

2014-12-23 USDJPY 60 0620We’ll have new highs today, of course, but should see a reaction from DX.  We’ll take a look at how our VIX, TXN and SPX targets are coming along after the bell.

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