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The Yen/Nikkei Connection:  Correction Phase ?
Mar 14 ( From TradingView, FRED )
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Correlation YEN / SP500

​Correlation since the beginning of Abenomics in November 2012 between the Yen and the SP500 have been astonishing.

​​Even if lately, correlation have lessened a little bit, trendiness became the rule
 as shown by the chart below...

We must follow the Yen closely because it can become a trend changer for the Nikkei and the Mighty SP500...​​

But the most interesting, is that the Nikkei failed to break out​​ from a major resistance trendline that started on June 1996... 
​See 4th chart below...

Louis Pasteur
"Chance favors the prepared mind."

The Yen/Nikkei Connection: Correction Phase ?     SPY, $SPX, $ES_F, $NKY, $USDJPY
SP500 in Yen ( Left Scale )
Yen ( Bottom Scale )​
And since november 2012, the correlation has been striking even if lately, it did fade.

But if we take the SP500 price in Yen, then the correlation with the Nikkei225 index on a weekly basis even more surprising as shown by the chart below...​
SP500 in Yen ( Left Scale )
Nikkei 225 ( Bottom Scale )​

​​​The chart below shows the trendiness between the SP500 price in Yen and the Nikkei225 ( Red Line ).
The push that started lately on the Nikkei had tremendous impact on the SP500...​ And started a correction since Dec 31...
And a tremendous rally since Feb 3... To be back to consolidation mode since Feb 24.​
 SP500 in Yen ( Right Scale, Candles )
Nikkei 225
Red Line )​
A Too Narrow View of Markets

Too often, we have a short view of the market. In the case of the Nikkei225, in fact, a Major Resistance Trendline​​ since June 1996 is at play now as shown by the chart below... And it shows that the Nikkei failed to break the trendline...