$/yen

look at this - careful, stocks already under pressure...unless you're short of course. FF 100% chance of 25bps...baked and cooked?

 

What does this have to do with USDJPY?
114 BUY or SELL?

 

Just saying be careful if you're long equities...if the mkts stays weak and the yen keeps getting bid, stocks may go even lower. We have some potential vol pickup here. Look at gbp/yen, same thing...some interesting levels being tested here.

but...what do I know?

 

I haven't traded currencies in 15 years, but rather be short then long here. Short term levels being tested here is what I see. SP, $/yen, etc... NAS and DOW also close, $/yen may get crushed below 114 if US equities fail at those levels. Chicken or the egg potential.

 

you know just for the hell of it, let's put a paper trade on here...sell $/yen ...113.95 low. 114.23 stop.

 

too weak to even retest 114 at all...sell another

 

ok, no more fun and games...hope none of you are long and good trading. I'll shut up now.

 

Yen is following equities. Don't believe it's the other way around.

 

to me, mkts are inter-related but also trade independently when certain levels are tested...but what do I know?