USDJPY: 11 January 2015, Monday, 8.34am Singapore Time
USDJPY is starting to see buy pressure coming.
It has also entered into a strong support zone.
Rebound may be coming.
It has also entered into a strong support zone.
Rebound may be coming.
Take longs profits at just above ￥121.00
As USDJPY is starting to sell absorption and buy pressure, Stock markets worldwide may start to execute a rebound as soon as 12 January 2016 if USDJPY refuses to fall when US markets open on Monday 12 January 2016.
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Hello, may I ask what is the rationale that the strengthening of USDJPY will cause a stock market rebound?? Is it due to correlation in the history, and is there other reasons behind? Thank you for your enrichment of knowledge in advance
ReplyDeleteYes, because USDJPY correlation with equities market. It has stubbornly refused to fall when Nikkei went -500 points, a very strong sign of deviation. Often, forex markets, being the larger markets, turn before stocks and equities markets. Hope it helps in your understanding of the market mechanisms, Si Qin.
ReplyDeleteThank you very much!!!
ReplyDelete