USDCHF AND GBPJPY are uncorrelated, but, for one day, GBPJPY was an identical twin of USDCHF but was born one bar behind. That is, USDCHF gave you a one hour look ahead to USDCHF. Then, GBPUSD broke support and then the twins were more fraternal than identical, BUT WAIT THERE'S MORE! USDJPY touched its upper regressional channel resistance at 113.800 and looks poised for a steady bear walk down to its next support around 111.5 or 108.
SO NOW! Using USDCHF and USDJPY as borometerS for several pairs proves to be HIGHLY useful.
We are walking toward global fiat parity folks... Enjoy the show...
SO NOW! Using USDCHF and USDJPY as borometerS for several pairs proves to be HIGHLY useful.
We are walking toward global fiat parity folks... Enjoy the show...
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PS my actual trade was enter short GBPJPY @ 140.7 because USDCHF signaled a shooting star the hour before...
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GBPUSD breaks through key support on it's day chart and USDJPY butts up against key resistance on it's day chart. How will pound and yen weakness affect USD? Trump wants a weaker dollar. Repatriation loses it's appeal...
this is a MEXICAN STANDOFF!!!