So many retail investors constantly searching for the “single metric” that “single indicator” that will Trump all, and provide the most valuable insight into the deep dark secrets of “mother market”.
Look no further.
The currency pair USD/JPY tells you everything you need to know.
No need to draw any more lines / arrows on the chart as you can clearly see ( by looking back and identifying areas of previous support and resistance) – USD/JPY is now approaching “serious” resistance here around 112.00
This is a simple “bell weather for risk appetite” as….USD/JPY will FALL as risk comes off. From a purely technical standpoint – things don’t look good for bulls here.
Watch and see as the outcome from this week’s Fed meeting comes to light here Wednesday. You’d have to assume The Fed will again “talk down the dollar” as further appreciation will continue to kill U.S Exports.
I’m locked and loaded. Have you made your plan?