#Nikkei 225 @19042 high has been marked in the market, driving a strong move for the #USDJPY nearing the 115.50 target levels mentioned in our "CORRELATION STRATEGY" trading @115.22 to this writing. Meanwhile the ISHARES Currency Hedge Japan ETF (HEWJ) is already @28.30 from its breaking price point of 25.00. Thus all in line with our market call.
While this is also supported from a #USD price recovery after #ECB President Mario Draghi left rates unchanged with the exception to cut its bond-buying policy to 60B instead of the regular 80B which would likely be extended thereafter. This drove the #EURUSD now currently @1.0556 levels to this time in the US session.
Chart Overlay on Cloud: USDJPY, NK225, HEWJ, https://www.tradingview.com/x/kFrYVPkw/
The NK225 will share the same exceptional experience & price action while the USDJPY weakness is still in play. Similar with the DOW's strength when the USD decline from the QE policy of the Fed.
ReplyDeleteDo not discount the probability of daily pullbacks especially from the week and closing month of the year!
ReplyDeleteBarely two weeks into the year end, the #USDJPY marked a 117.87 session high between transition of Asia & European markets. Still Aligned with #USD strength marked on our target levels above 102.20 for the SPOT - DXY with a high @102.68 bp extension came through with flying colors.
ReplyDeleteWith the Currency hedge J-ETF registered a high @28.86 levels marking an alignment of price action on the way up with an assumption that sustainable volumes would already be expected an increase at this time.
Meanwhile the Nikkei 225 new high @19436, is considered to be the 8th consecutive high for the past three months. Which we already stated would have a similar price action movement along with the DOW's directional trend.
Cloud Chart: https://s.tradingview.com/x/13OTD7St/
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