Since 2011, it has paid to be long the US$/Yen, could that trend be about to change? Big test in play friends!
Below looks at the US$/Yen over the past 8-years-
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The trend is your friend and the trend in the US$/Yen still remains up at this time. It has paid for years to buy on support, will it be different this time?
Most important test of support in the past year is in play at (3) currently.
What the US$/Yen does at (3), has huge implications for many different assets and stocks are one of them. If support would fail to hold at (3), US$/Yen could see selling pressure ramp up. Next key support for the US$/Yen comes into play around the 100 level.
Keep your eye on the US$/Yen, what it does from here, should be very important!