TRADE WAR ANALOGY: Tactical Investors Manage & React

To market conditions that counts the most.

Some financial analyst and news commentators have some how stated in passing that President Trumps words about the FED rate hikes and other trading partner countries with the US was interpreted as an indirect 'verbal intervention' that ended a USD sell off on the last trading day for the week.

In our perspective, for now a lot of these 'Market Misdirection' have given ample relief for the currency & commodity markets to recoup what was previously lost while US equities remain steady amid all these news report, including Trump and Putin's Helsinki meeting.

Let's face it, with the US unfair disadvantage in global trade deals as persistently claimed by Trump, the Chinese Yuan would remain at odds with the US Dollar when it comes to the foreign exchange rates as it still limits its market in spite of being so called more open policy. But for as long as Japan weighs in and is aligned with the US trade policy it would serve as a secondary buffer / counter-weight that could balance-out with China's attraction for a weaker or competitive global Yuan policy.

Comparative Price Action Analysis: USD Vs. CHINESE Yuan & Japanese Yen 

One of the best trading strategy applied in relation with a defined trend direction that can be referenced with the chart reflecting the CNHJPY Cross rate. Which is in fact the inverse reflection of the chart below. 

The basic analogy in the market is that, whenever there is a persistent price consolidation period and a TUG of WAR existing between bulls and bears investors needs to follow the old classic rule in trading where the prevailing trend normally gets back on its original track.

USD Gains Steam & European Majors Drift Lower

With a stellar jobs data, the trade spat between the two biggest economies increases as China brings the issues to the WTO and European majors particularly the Sterling Pound have been quite supportive for the USD. The DXY is seen retracing back to its session high at 95.60 basis point as it is the strongest currency against its counterparts.

With the Sterling Pound (CABLE) drifting lower when it missed its retail sales report. GBPUSD is at 1.2984 heading well below the 1.2880 levels where it came from. While the EURUSD is keeping tis pace trading well below 1.1600 retesting it minor support levels, in which case both majors are in the defensive trying their respective best to hold these levels.

That includes the USDJPY corrective price action briefly dropping below the 113.00 handle due to risk aversion and from a light turnover from speculative liquidation as it draws closer to the US trading session. Meanwhile, with China soft data, commodity currency AUDUSD have likewise maintained a weaker stance as it falls to the 0.7343 where a revisit from where it came from at 0.7180 - 0.7280 range would not be discounted as long as the USD keeps its pace moving forward.
 
Although, the surrounding factors quite supportive of the USD strength came from the US  data, other equally important factors came from lower Gold at $1216.00 and Oil prices at $69.90 after marking a $67.80 low which have kept the USD index steady to higher price movements well in line with the FED's rate hike guidance from FED chair Jerome Powell's current testimony. While US equities are in a corrective mode from trade uncertainty will still be a concern for most investors relentlessly reacting to a volatile trade spat between China and the US including its allies.

On the CCY Corner: USD Dominates & Ripples Across the Board

The USD didn't want to be left behind from the party, as the #USD #DXY registered a rally last Friday well above the 94.48 breaking the May initial high of 94.29. It has been a gradual climb for the USD well within three (3) consecutive months until reaching its recent high at 95.13 while closing for the week at 94.87. 

A firm tone for USD sentiment remains suported by the recent figures from a stellar Retail Sales report, Low Jobless Claims & the  ECB statements maintaining low Interest Rates until 2019 while ending their Asset Purchase Program. However, the market is focused on the tensions arising from the USD / China trade war building up and other US allies that may also be affected. 

A 'tit-for-tat' is expected more between the two major economies and how these would directly and indirectly affect other countries in the emerging markets particularly in Asia. As the USD strength and interest rate hike have already dampened most global equities and currency value in the pacific region.

This resulted the EURO back down at 1.1562 a slight overshot from our 1.1580 objective, the USDCHF at 0.9988 high nearing a rewind towards it s parity levels. Meanwhile, CABLE have registered a low at 1.3210 which run short of our  objective at 1.3180 and the AUSSIE Dollar loosing more ground with a low at 0.7440 as the USD surged. 

The USDJPY have remained at their own 110.65 levels a tight alignment from its price range for the past 5 consecutive weeks. However. its price action and similar trajectory correlated with the Nikkei 225 Overlay USDJPY is well defined in the near term direction.

Last but not necessarily the least is the relative reaction that carried the USDCAD well above the 1.3200 levels; a fresh incentive that drove the USD strength from all sides of the global market. The near term incentives for the USD strength can draw similar market sentiments towards the Loonie as it projects a revisit of a higher record high after similar corrective moves are in place. 

US Asian & PH Investors Know How Alternatives in Trading & Investment Works

There are Smart Choices to be made!

It has been quite a grueling four (4) months since the Philippine Stock Market Index(PSEI) peaked at 9078 at the end of January 2018. And have reached a dramatic low at 7499 which can be considered as the initial base for now. As the two (2) recently encouraging price recovery have lost steam while ending the week of May 18 closing at the levels of 7672. 

The market's ability to make a decent enough follow through after weighting adjustments made on the indices, and partly influenced by the positive sentiments of US equities price action then wasn't enough to build momentum as foreign outflows still dominated the end of the trading week. 

This was not really a surprise, as the market's behavior on the price recovery most often fizzles out and even pares its gains while drifting much lower from where prices came from. While most PH analyst have conveyed that inflation factors, high cost of local fuel along side consumer goods and services have creep-up. As the recent rate hike of the BSP have finally came through, as an economic policy responsiveness for higher inflation figures.

Although, other mix reports continuously states sound and solid fundamentals for the Philippines is stable with the recent positive credit rating approval received. True enough, but the up & down turns are part and partial of the growing pains for the market from the numerous share right offerings - SRO, government bonds, foreign outflows, and new corporate bonds offerings in the list. 

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Investing & Trading by CORRELATION is the way to ADAPT in  this type of market conditions with utmost SUCCESS! . . . Sir Alexander

CORRELATION & Price Update Across the Board:

As of May 15, 2018

#Dow Jones Industrial Average (#DJIA)   
                 DJIA Currency in USD                      

24,656.25 -243.16 (-0.98%)

#CBOE #Interest Rate 10 Year (#TNX)
Chicago Options Currency in #USD
3.059 +0.064 (+2.14%) 

              

#US Dollar Index #DXY #ICE 
Currency Index in USD
93.30 +0.633 (+0.68%)  

#USD/JPY (SPOT) Foreign Exchange Rate
CCY Currency in #USD vs #JPY
110.294 +0.609 (+0.56%)

#Nikkei225 #FUTURES Index (#NKDM18 #CME)    
                  CME Currency in #USD                      
22,775.00 -115.00 (-0.50%) 

               

#Nikkei225 #TOPIX (N225)
Currency in #JPY
22,818.02 -47.84 (-0.21%) 

PSEI INDEX (PSEI.PS)Philippine Currency in PHP
7,885.97+133.86 (+1.73%) 

iShares MSCI Philippines ETF (EPHE)

NYSE Arca - Nasdaq Real Time Price. Currency in USD
33.74+0.08 (+0.24%)

Comparative Analysis Nikkei 225

Comparative Technical Approach 

A distinct variation applied on the NK225 defining its price and chart patterns; as well as a support the derived trend analysis can be a little more complicated. There are at least over 8 valid indicators combined that draws similar conclusive information as to the true directional trend of the NK225 from where it came from. Here goes!

Two (2) Distinct & Relative Technical Trading Approach

MT101 Chart A above, indicates a combination of 6 technical indicators applied. The distinct 'Descending / Falling Wedge' formation is a classic of its own indicating an early signal of price reversal in the making. And a price break out from the first initial resistance level with enough momentum was indeed true. 

We have declassified this on our market analysis reflecting the early signals of higher probability of a price recovery contrary to the market sentiments of a stronger Yen. While a probable turn around for the USD to strengthen when the USDJPY marked a 104.63 low on March 26, 2016. Further chart references that MT101 apply the MA Cross over in relation with the USD / Japanese Yen and the Nikkei 225 crucial cross road analysis 

MegaTrade101 strategic technical approach is compared with Daryl Guppy's Chart B above which defines his analysis using the GMMA or known as the Guppy Mutiple Moving Averages. A combination of grouping near /long term variable moving averages in wide and compressed market situations as indicated on the chart. When such a compression is in agreement both price & value, expect the market to make relative good market swings. 

CORRELATION between the NK225 and the foreign exchange rates of the USDJPY has always been a part of the trading equation in oour trading and investment process. However, as part of our due diligence in supporting our fundamental market perspective by extending ways to check the best technical approach. 

Related Information: USDJPY Nikkei 225 Aligns with USD Move

Swiss Franc at PARITY with US Dollar

Yes, indeed USDCHF (US Dollar / Swiss Franc) have reached above 'PARITY' levels as stated in our market call dated April 20, 2018. It is currently trading in Asian session at 1.0011 as of 5.7.18 coming from a long stretch at 0.9305 since February 2018. These prices now have VALIDATED our Market Price Call.

Reference Analysis: USDCHF & GBPCHF Cross Rate

The USD remains firm even when European markets would be on a holiday; FX markets for now have remained quiet with the underlying sentiments for the USD hold. Comparatively weaker with the YEN as a corrective move down to 108.65 occurred from the prior week.

Relative to a weaker Sterling that had missed expectation reports and the unlikelihood of not being able to raise UK rates have prompted CABLE or GBPUSD to move lower to levels at 1.3485. Thus spilling over the GBPCHF week's movements lower that drove it down towards 1.3473 coming from 1.3855.

Reference to GBPUSD

Reference to GBPCHF Cross Rate

Thus it shows how the market's behavior on a massive decline can create a 'Price Realignment' that was identified during the move. Where the aftermath of this decline also creates a probable pause and a price pullback scenario.

USD Gains & A Follow-through Ahead of FOMC

After an array of earnings, ECB monetary stance and external UK PMI data have surrounded the #USD as it gains ahead of FOMC. The DXY is above 92.00 at the time of writing. Market sentments spilled over in Asia as the USDJPY is now above 109.20 with a session high marked at 109.70 nearing the 110.50 first line of defense.  

Meanwhile, the NIKKEI 225 is well above 22500 levels with NKDM2018 futures is trailing not too far behind at 22480. As the opening levels for May as the market have been positive as the USD's correlation prevails until such time it does otherwise. 

Financial markets find ways to shift freely at its own pace when least expected. But for those with a keen analytical eye for detail can still provide unsuspecting signals before anyone could realize it. Only to find out after the fact that the market have moved.

A typical market trade for the #USD index at 88.25/45 low range dated Feb 21 and trading above 92.00 basis pt. in early US session. As of May 1, 2018 starting at the European session DXY at 92.11 basis point and followed through into the US session currently trading at 92.52. With equities in triple digit decline. 

These prices have now VALIDATED 
all 'Related Trade Positions' in Spot FX, Futures and ETFs. 

Reference to Market Call
 Strategies USD Probable Turn in the Making dated Feb 21, 2018

USD Positive FX & EQUITIES Backdrop: Fundamental / Technically motivated Market Drivers

As the USD steadies, we see that the NK225 index has just made a weekly new high at 22488.28 though currently trading at an intra-day's Asian session correction at 22420.19, still a in triple digit up change from the previous closing price at 22319.61.

And these strategies have been taken from our trade analysis led by the futures market on the #NIKKEI 225 by effectively trading the NKDM2018 and the relative correlation of Japanese Equity Index and the USD / Yen correlation exchange rate direction.

This simply shows the extent of the 'CORRELATION' between the NIKKEI 225 and the USDJPY moving towards a 109.47 registered high after breaking though 108.80 the previous day. The pressure on the YEN's weakness was more from the USD gaining lost ground assisted by the 10 Year Treasury Yield slightly over the 3% threshold. But seemingly making a corrective move slightly below these levels.

Moving forward a steadier market outlook would be expected as the coverage of the NORKOR's willingness towards  a peaceful Korean peninsula takes place, as a meeting between Kim Jung Un and South Korean President Moon is underway. Which would pave the way for both Washington and North Korea for a dialogue in the upcoming summit.    

A positive USD backdrop from US earnings report, Geopolitical tension and trade war easing from US meeting with China while the ongoing meeting of North and South Koreas takes place. For now, these market conditions are conducive to a more stable financial market that depicts a far better relationship between fundamental and technically motivated  market drivers. 

CORRELATION of Spot / Futures Prices on USD & Relative Major Pairs

USDJPY is at 109.30 while the USD index - DXY is at 91.21 as a result that 10-Treasury is at 3.02 +2.37% in the US trading session. Corrective moves are expected within the US session but are limited to a tight range. The over-crowded USD Put options market have started to unwind positions when the USD index traded above the 90.70 levels.

Meanwhile, DXM18 Futures contract below is trailing behind; trading at 90.98 indicates a backwardation that still prevails and makes adjustments moving closer as the expected interest rate hike schedule spread for the year is in the making. This would provide the necessary trading cycle for the USD to move higher. Although, any corrective move on the 10 Year Bond below the 3.00 level may well see the same narrative correction before any continuation occurs.

As we may see some unwinding trade positions once the COT report on the USD comes into play in the coming weeks. Likewise the increase in relative volume in futures / options markets tend to increase but the difference can only be seen when the final COT reports reflects the true data thereafter.

And above these levels is positive with the exception that stocks would be affected to wards a corrective move. The important closing price for the week would be well anticipated as it would provide a more clear direction moving into the new month of May.

While other currencies affected with a stronger USD are the USDCHF at 0.9843, with the European majors weakness due to unwinding trade positions; as the GBPUSD is trading lower at 1.3935, EURUSD at 1.2172. The commodity currencies like the AUDUSD have fallen trading at 0.7563 while the USDCAD / Loonie is at 1.2873 respectively. 

Sequence of Related Trades: 

The USD Index & DOW Equities are moving in the same direction.

USD Tops Aussie and Canadian Dollar

USDJPY NIKKEI 225 Aligns with USD Move Above 90.70

Staying ahead of the market is an advantage but not to be completely complacent. One week before April close the #USD would remain above this levels to sustain its recovery. Tracking #ICE #DX futures #VOI trailing Spot #DXY crucial to determine trend direction. DXY at 90.70 basis point. VALIDATED AS OF APRIL 22, 2018

UPDATE: DXY record high at 91.07 basis point as of US session 4.24.18

#USDJPY has finally moved as of April 22, 2018 reaching 108.55 in US trading sessions influenced by the acceleration of the USD index above the 90.70 basis point from the 10 year US treasury Yield nearing the 3% mark. With #VOLATILITY present in both sides of the market, and with #LIQUIDITY in abundance, it doesn't take much for prices to move back in either direction especially from a decline to a recovery.

The US #Nikkei 225 futures below chart have reacted positively with the #NKDM2018 trading at 22210 up by +110.00 = +0.50%. Which would bring Tokyo's next NK225 trading expected to be in the same triple digit when it opens in Asian session. However, the advantage of anticipating a market move in Asia has already been absorbed with the USDJPY rise above the 108.00.

Sustaining these levels would give another boost for the Nikkei to be able to continue where it originally left off. That is when there would be no serious and unexpected actions from the BOJ to say otherwise.

Reference: Japanese Yen & Equities at Crucial Cross Road - Yen Related Trades

MARKET INSIGHT: On the USD - DXY Related Cross Rate:

Taking advantage of the exchange rate / conversion of a weaker Philippine Peso against both the USD and the Yen. 

Although, the technical formation based on the chart below signifies a Candlestick Tweezer Top have been driven by the market liquidation due to the shortened trading week and relative position adjustments as the end of the 1st quarter trading came to a close. However, a 'Cluster bar' formation would be expected entering into the new month of April as it attempts to raise the bar.

Sequence Update: 
Similar to the formation of the USD as it consolidates in search of the bottom. Hence the daily chart shows the similarity of the price action between the USDJPY and USD Index - DXY can be viewed from a comparative analysis. 

A test nearest and / or above the JPY/PHP cross rate would be at 0.5030 or the equivalent of PHP50.30 +/- well within the 2nd quarter of 2018. And after #USDPHP breaks above 52.75 - 53.10 the first 2-3 weeks of April 2018. As the #USD would gain lost ground especially when #DXY goes above the 90.10/20 and break higher at 90.55 basis point range levels.

 

The distinction of being an accredited investor / trader having access to EBS '#NEX #MARKETS' #UK, trading in #ASIAN - Emerging Currency Markets - #NDFs would be a great way of improving investment portfolio. With the #EBS Direct platforms are indeed more viable to trade nowadays; as deeper access to liquidity markets are suitable for current market conditions that may not be available in other market exchanges.

With Reference to: 

TSOT - Strategic Sequence of Yen Related Trades

The knowledge of the Foreign exchange market can be a dynamic medium for investing and trading the traditional methods which #Asian #US #PH #OFWs / investors and traders can do instead.

Simple and yet quite effective! 

#TSOT - Strategic Sequence of #YEN Related Trades

Adapting to Sentiments Across four (4) Major markets!

USDJPY hits 104.64 low that triggered an equivalent drop on the NK225 at 20559, likewise setting NKDM2018 Futures at 20195; wide price differential and the Yen Futures at 0.009600 inverse price relation with a premium over spot. the strategy is quite expensive though well worth the risk taken as we adjust with the bearish and bullish trade conditions and market sentiments. 

A complex trade strategy which we are accustomed to that magnifies the market potential when the trend signal was first defined last Feb 14 from our market outlook. And with the directional move confirmed when it reached 105.50 and now have broken below these levels.

Thus VALIDATING our price and market call from Feb 14 to the close of March 23, 2018. The sequence of analysis and price action took more than a month from the time the information was conceptualized with the USDJPY last February was still trading at 107.09. And a plan of action was built upon this trade idea moving forward. In any trade call where a greater probability of a market potential in the making needs a follow-through trade especially when the directional trend and price action is reflected right on the charts.

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Relative Information:
Japanese Yen & Equities at the Crucial Cross Road

YEN Gains As TRADE WAR Linger On

When tensions on TRADE WAR looms in the market again especially with China; the Japanese #YEN's flight to safe haven never misses the ACTION. It's been one roller coaster ride too many. Never miss a heart beat even with the slightest market recovery near the 107.00 last week was not sustained. Especially with US equities like the #DOW in triple digit decline.

The market's ability to whipsaw these prices is actually getting a bit tiresome for others we have spoken to who can't keep up with the price swing in both directions. Choppy as they say, but quite favorable for day traders scalping in between trades.

The USDJPY is back at 105.33 which is another step down follow through from its recent high and retesting the lows especially when its going to be a short trading week ahead. Just be aware that sudden unexpected pullbacks on these sessions can occur at any given time due to the nature of volatility in the market especially whenever it's thinly traded. As the upcoming Good Friday is just around the corner likewise the end of the 1st quarter trading 2018.

Market Update As of March 23, 2018:
TSOT - Strategic Sequence of YEN Related Trades 

The futures long 6JYM8 (June contract month) has maintained its pace heading North of the chart. Which is obviously an INVERSE of the SPOT FX USDJPY described in both charts and has formed the same market sentiment of increasing VALUE. 

Then again, an advantage for ASIAN - PH Overseas Filipino Workers in Japan have been following our market sentiments on the relative value of the JPY with is strength as against the depreciating PH Peso. The exchange rate has been to their advantage as the weakness of the PHP provides greater value for their remittances.

This way investments and savings made are favorable for their families which would continue to do so until a reversal is identified, but this may take sometime to occur. This is how MegaTrade101 encourages PH OFWs in Japan to keep track of and gain the knowledge and the monetary benefits by knowing and planning their finances through this simple process similar to a foreign exchange dealer / remittance center. This way they do not have to trade the FX market the same way that we do.

USD Tops AUSSIE & CANADIAN Dollar

Matter of Choice & Perspective Between Safe Haven Bets or Commodity Currency and relative major pairs

The erratic pace of price action among the major currency pairs caused by market volatility for one, have covered both sides of the market directions. Each major pair have curved a wider HI/LO range, and their own respective reasons for their price movements.

Likewise, a lot of fundamental factors surrounding the  markets surfaced mostly from the US government's shuffle and global stocks including foreign equities disappointments have been the drivers of a very choppy market. No pattern can be identified as the market prices tend to be on the negative side can be quite unpredictable.

With that said, Commodity currencies weakness have also been on the defensive particularly the AUSSIE and the CANADIAN Dollar providing a firmer tone for the USD Index now above the 90.20/30 levels which we recently pointed out in our market view. 

As of this writing, the AUDUSD is trading at 0.7735 have fallen anew while the USDCAD have regained its footing after a mild corrective move at 1.2805 levels and is currently trading above 1.3085 levels. A resumption of its original trend direction since coming from the February low at 1.2287 with the equivalent USD INDEX then at 88.53 basis point levels. The only comparative analysis noted was the USDCAD had barely three minor price correction which have had a more impressive USD recovery compared with the AUDUSD itself.

As a matter of fact, the Australian Dollar trading partnership with China have shown that the AUDCNH and the AUDUSD have more of a similar price action as compared with the USDCAD. Hence, the discrepancy in USD recovery is greater with the CANADIAN Dollar as a matter of technical chart perspective.

Meanwhile, the USDJPY have made itself clear as a safe haven for any currency market disruption as the choice for a lot of investors. And has proven to be true as it has retested the 105.50 levels again while pulling back within the current session at 106.20. While the USD has also made headway with the USDCHF trading at 0.9535 a probable delayed reaction from the SNB maintaining its monetary policy.

Nearing the end of the month and 1st quarter trading would have quite an interesting market scenario, as the coming holy week and shortened trading; the probable market action would be deemed thin. Yet, the likelyhood of unexpected price before and after would be expected based on historical price movement which could emerge without any given notice.

So watch how the market plays out especially for the closing price levels of the USD by the months' end and opening levels for the first two weeks of April. Our fiduciary duty to our client interest does comes first keeping us at toes with the market to be relevant in these types of market conditions presented to us time and again!

   

Tail Wagging FX & Equities' In Both Directions

Follow where CONVICTION is stronger!

To no surprise, the market place have reflected price volatility as a common ground with the current  price action in the US trading session. US equities particularly with the DOW's failure to stay afloat above 25k is swaying from triple digit changes between highs and lows which comes relatively easy and see investors shifting gears or simply changing hands quickly with price action narratives.

Especially with the most recent report on the President's steel and aluminum tariff plans drew a quick rebuttal plan of action from the EU counter balance and have made the markets react in both market directions. A probable Trade War in the making have already proven depressing for the USD Index which also slipped below 90.05 losing momentum from the previous move and trading at 89.61.

No different with the FX / currency market where we have seen a quick turn around for the EURO when it marked 1.2180 with a low at 1.2154 level, CABLE at 1.3750, low at 1.3711 and the USDJPY at 105.50 with a low at 105.25. Which actually sparked a price recovery after marking our price objectives and is currently at 1.2410, 1.3883 and 106.20 respectively.  

US #Equities spilled over the #NK225 and recovered to a high at 21551 just in time with the #USDJPY at 105.50 with an extension at the 105.25. This levels were practically aligned that is why we mentioned that a contrary move was indeed in the making. With the USDJPY making a price recovery trading at 106.20 motivated by a technical divergence

And this proves to be the #VALIDATION of both before and after the fact. A typical market play reflecting #VOLATILITY is present in both sides of the market. Friday's #JOBS report would be the clincher for the rest of the week.

NIKKEI 225 Death Cross Signal VALIDATED

#Bloomberg Business: Technical Outlook for #Nikkei225 points to a 'Death Cross' . How reliable is it for an investor / trader to take action based on this premise? But for those who decided to take this information more seriously CONGRATULATIONS! for being right on time to make the trade work in favorable conditions AFTER the FACT that resulted well!

A real classic example of 'Before and After the Fact' where a signal was reflected prior to the decline. A matter of one day difference can make or break a trading decision well worth the risk. Likewise, the technically motivated outlook have aligned with the market fundamentals making it a viable trade done in the NKD.M2018 CME Futures market. With a cushion protecting the trade gains in the USDJPY FX cash market for a full strategic hedge strategy whenever necessary.

Carefully watching the 105.50 levels is vital along side the price recovery for the US Dollar Index - DXY currently at the 90.65 basis point as of this writing. All trades that MegaTrade101 does are 'CORRELATED' with every instrument selected for trading and investing.. 

Likewise, MegaTrade101 goes by with the same principles of

Warren Buffet stated:

Only when the tide goes out, do you discover who's been swimming naked!

Japanese YEN VALUE Accelerates - USD DXY Continues Decline

FLIGHT TO QUALITY SAFE-HAVEN #CURRENCIES as #VOLATILTY Remains

After the Consumer Price Index (CPI) released a rise of 0.5%. Stocks opened lower and is currently having a roller coaster ride as a TUG of WAR between market players are felt across the board. But the general focus we've had is on the currency particularly the #USDJPY as described on the chart below. In short a 'HOT Red Letter day' for the USD index just in time for Valentine's day, so to speak! 

As the USD tries to form a base to recover but likewise met with market investors flight to safe haven currencies including the #USDCHF doing the same with higher volumes adding to the momentum of the trades even up to this writing. Likewise, even the weakness of the Philippine Peso #USDPHP weakening to its lowest value above 52.00 is a daunting shock for the #YEN to PHP or #JPYPHP exchange rate as seen nearing the 48.00-50.00 range.   

USDJPY as of Feb 14, 2018

Rapid Price Action as Japanese #YEN racing towards an important 'Step-Down' key price levels to challenge the 105.50. Currently trading at 107.09 correction from a knee jerk whipsaw reaction with the USD session decline after initiating a high at 90.12.