Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Wednesday, August 7, 2013
USD/JPY Dollar/Yen One-Day and 5-Day Charts
The red arrow on the intraday chart shows the drop in the dollar/yen (yen strengthening) overnight that sends the Nikkei -4% and U.S. futures lower. The bottom a few hours ago is at 96.75-ish so pay attention to that level. In only 3 days, the dollar/yen drops from 100 to 97-ish, about 3%. Price may move sideways pivoting above and below 97. Typically, a strengthening yen = lower dollar/yen = lower Nikkei = lower U.S. equities and weakening yen due to BOJ easy money policies = higher dollar/yen = higher Nikkei = higher U.S. equities. The dollar/yen is currently printing 97.09.S&P futures -4.5. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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