Down again through the latest barrier, posting a low of 1.2345. EUR/JPY is in a full-fledged retreat, falling to levels not seen since 2000.
Do not fade this trend friends. It is much too strong to be trifled with. Too late to jump on board, but don’t try and pick a bottom…
The S&P 500 has fallen below 1300, the 10-year note is at a 1.53% yield and oil is below $86.50. Full-fledged panic.
For you US dollar index fans, keep an eye on the 83.50/55 area. It is the next resistance. We trade now at 83.19.
