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SP500 and the Yen: Follow the Yen My Dear ?
September 30 ( From TradingView , AllStarCharts )
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The Situation
In these uncertain times, it is interesting to look the behavior of
the YEN ( candles ) in relation to the Mighty SP500 ( bar chart )
on the chart below.
Not surprisingly to me, usually, it is the same trend. And this year
again, seasonalities for the Yen did worked with a grind at the
beginning of September 2015 that should extend to mid-October.
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 have been rejected violently
and near peaks on September 17 2015 also.
But Since August 25, the Yen started to trade within a wedge.
( See first chart below - Green Lines )
The Mighty SP500 broke its wedge pattern lately but was not confirmed by the Yen...Breaking one side or the other for the YEN will increase volatility for sure and confirm or invalid the prior break down on SP500 Index... ( See first chart below - ellipse )
Read Also: Is Yen Setting Up For An Epic Rally?
Louis Pasteur
"Chance favors the prepared mind."
SP500 and the Yen: Follow the Yen My Dear ? $SPY, $USDJPY #Trading #investing #yen #SP500
DAILY
YEN (USDJPY - Candles - Top Panel )
SP500 Index ( BARS - Bottom Panel )
MONTHLY
YEN (USDJPY - Candles - Top Panel )
SP500 Index ( BARS - Bottom Panel )
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