YEN RECORD HIGH; MAJOR TECHNICAL LEVEL TAKEN OUT VS. DOLLAR

March 17th, 2011

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

Update: USD/JPY Breaking Down Again

US$ could be about to retest the low vs. yen. I’m watching the weak support level at 78.61 USD/JPY. Currently trading around 78.71. It looks like it’s going to break down again.

—End Update—

80.43 was the number.

Here’s a monthly chart to fit it all in. This is going back to 1995.

USD/JPY Monthly Candles

USD/JPY Monthly Candles

The intervention/manipulation that occurred to bring this back is probably unimaginable. Even so, that 80.43 level is busted.

Here’s the five minute resolution that shows the wheels coming off the cart:

USD/JPY 5 Minute Candles

USD/JPY 5 Minute Candles

What’s the significance of this?

Everything from Japan is going to get much more expensive.

Posted in Collapse, Economy | Top Of Page

One Response to “YEN RECORD HIGH; MAJOR TECHNICAL LEVEL TAKEN OUT VS. DOLLAR”

  1. tochigi says:
    March 17, 2011 at 4:27 am

    massive unemployment in japan coming soon
    unreliable infrastructure + spking yen = production shifted offshore

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