USD Breaking Down vs YEN

Today's weakness in the USD (weakness in YEN), can be viewed as having violated a support line that originated at the Sept, 2012, secondary low at 77.13, and which cuts across the price axis today in the vicinity of 120.50.

Inability of USD/YEN to claw its way back above 120.50 increases the likelihood of downside continuation that challenges the prior pullback lows at 118.05/10, and more importantly, at the Aug, 2015, spike low of 116.15, which will complete a 12-13 month Top Formation in the aftermath of a four-year bull run.

Today's weakness is potentially, extremely significant to the larger uptrend of USD/YEN, and likely will have major implications for other global financial markets moving forward.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!