my friend and fellow chartist and trader did an awesome post on the JPY and the US Equities: http://allstarcharts.com/its-the-yen-stupid/
below is a chart (intraday) showing the strong correlation …
so …IF THEN ..
IF the correlation remains intact – probability is it does but you never know THEN a BUY pattern appearing for the USD vs the JPY would signify SUPPORT for the US Equities complex.
so, here’s the BUY PATTERN I’m going to try and play on Sunday night …
pay attention to the world of FX …and, particularly, this BUY pattern.
IF it works THEN equities SHOULD find support.
IF it FAILS then … failed patterns aren’t a pretty sight and I’ll leave it at that …
118.20 on the USD vs YEN gonna be key.