USDJPY’s Death Cross

USDJPY’s 50-day moving average dropped below its 200-day moving average on Friday.  In technical analysis, this is known as a death cross and is ordinarily considered a rather bearish development.2015-10-19-USDJPY daily 0600The last time it happened, it precipitated SPX’s second biggest drop of the year.  But, it is remembered more for the BOJ’s reaction than for that or the even bigger plunge that followed.

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