The Yen Gives Us A Gimmie
Earlier today we mentioned the severe weight on the US Dollar that led to the ground giving move against the other two majors — Sterling and the Euro. We held those extended moves, yet hadn’t seen the correlating response in the Yen pairing with the dollar. We Pipsters are not correlation traders all the way, but we certainly keep the relationships in mind… and this one was one we’ve been talking about for some time.
We’re well through and in a “free trade” at this point. Patience, patience, patience.
As for reference of our earlier comments:
And for good measure…