This is a follow-up to my 16 Aug post on the $JPY as it teeter on the edge of the lower boundary of a giant wedge which began in 2012; the start of the Kuroda grand experiment. Well...I would say the $JPY has conclusively broken on the downside.
The measured objective, just because of the scale of the wedge, is around the 79 handle which may appear far fetched. However, this is a limit of our human mind which give recent prices permanency. In 2012, the thought of the $JPY hitting the 130 handle was equally far fetched as the idea of a 79 handle in the months ahead.
Between Lagarde moving to the ECB, which implies a political solution in the Eurozone, and Carney aiming for the IMF job by calling for an IMF led crypto global SDR to replace the USD, we are heading for where no man has gone before. Helmets on!
The measured objective, just because of the scale of the wedge, is around the 79 handle which may appear far fetched. However, this is a limit of our human mind which give recent prices permanency. In 2012, the thought of the $JPY hitting the 130 handle was equally far fetched as the idea of a 79 handle in the months ahead.
Between Lagarde moving to the ECB, which implies a political solution in the Eurozone, and Carney aiming for the IMF job by calling for an IMF led crypto global SDR to replace the USD, we are heading for where no man has gone before. Helmets on!
