Thursday, March 13, 2008

Yen/USD intermarket relationship

Daily chart view of Yen vs US dollar.
Overnight we made new highs, which caused some margin calls and a drop in Asian markets, with a setup for a gap down for US markets the next trading day.

US markets open, and resistance is seen in Yen and bond futures after a big run up. Profit taking in bonds leads to buying in US equities and a big
reversal after the DOW closes the day higher after
being down over 200pts in the morning trade.


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