$USDJPY Is Savaged, Hammered Over 3%
FX turmoil early in the evening session with the AUDUSD falling to .6750, USDJPY falling through 105 and USDTRY blasting through 5.6.
EURUSD and GBPUSD are taking some heat, too, in what is being explained as carry trades being unwound as market participants are finally getting the gist: growth and inflation are slowing.
In my previous post, my intermediate TACVOL range was114.44/108.30. Price action had been unable to break above the range top, and now completely falling through the bottom. I would like this move play out before jumping in.
www.tradingview.com/chart/USDJPY...
However, if you've read my work, I been trying to prepare readers for the epic shift.
If we look towards US/Japan rate differentials, USDJPY is suggesting US yields have much more to fall.
This was the largest rate of change move since 2017.
Current TACVOL range 115.54/108.87; -2.81 score suggesting a pull back is in order at least near-term.
EURUSD and GBPUSD are taking some heat, too, in what is being explained as carry trades being unwound as market participants are finally getting the gist: growth and inflation are slowing.
In my previous post, my intermediate TACVOL range was114.44/108.30. Price action had been unable to break above the range top, and now completely falling through the bottom. I would like this move play out before jumping in.
www.tradingview.com/chart/USDJPY...
However, if you've read my work, I been trying to prepare readers for the epic shift.
If we look towards US/Japan rate differentials, USDJPY is suggesting US yields have much more to fall.
This was the largest rate of change move since 2017.
Current TACVOL range 115.54/108.87; -2.81 score suggesting a pull back is in order at least near-term.
