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 TECHNICALS
SP500 and the Yen: Follow the Yen My Dear ?
February 23 2016  ​( From TradingView  )
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​​The Situation
​
​In these uncertain times, it is interesting to look the behavior of 
​the ​YEN ( top panel - candles ) ​in relation to the Mighty SP500 
​( bottom panel -bar chart ) ​on the ​chart below.

Following the YEN can gives us a clue about the next trend in the 
​Mighty SP500...​​​​​ Interesting to note that in both cases ( Yen and 
​SP500 ), both lows made on ​August 24 2015 have been rejected 
​violently ​and  also near peaks on November  2015.

But few of us realize that the Yen broke a Monthly Uptrend Channel 
​that started back in October 2012. All that when the BOJ ( Bank of 
​Japan ) announced their new negative rates policy on January 29 2016.
​( See first chart below )​

​​The Mighty SP500 broke already its Monthly Uptrend Channel​​, ​earlier than the Yen but the keep the same trend. ( See first chart below )​

And quite impressive the daily relationship between the Mighty SP500 Index in Yen  ( SPY ETF​​ times the USDJPY exchange rate - candles ) compare to the Nikkei 225 Index ( Red Line ) on the second chart below.


​Read Also from Jan 29 article: Bank of Japan Adopts Negative Rates, Keeps Asset-Buying Target 


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Louis Pasteur
"Chance favors the prepared mind." 



SP500 and the Yen: Follow the Yen My Dear ?  $SPY,  $USDJPY #Trading #investing #yen #SP500




DAILY
SP500 Index in YEN ( SPY ETF​​ times the USDJPY exchange rate - candles )
Nikkei225 Index ( Red Line  )








MONTHLY
​YEN (USDJPY - Candles - Top Panel )

SP500 Index ( Bars - Bottom Panel  )


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