Un-freakin’-real. Stocks were plus or minus 25 points most of the day before cratering at the close. USD/JPY was pulled down from above 94.00 level to the 93.50 zone. The Dow ends 215 points lower.
All in all it was a fairly dull session by recent standards with EUR/JPY doing better most of the day before the late stock stumble. Let’s hope this is enough to pull Asia out of its downward spiral.
Keep an eye on 1.2470 near-term. It’s important intraday support. Stops will be clustered below that level for sure.
