Wednesday, October 23, 2013

Hard to Compre-Yen- d

  • On the daily timeframe, the yen has tested support from the October 1st breakout and appears poised to challenge the retracement highs from this past June.
  • Because Japan has taken its time in resolving the rising wedge formation it has been trading in since its breakdown this past May, we pulled back to the weekly series to get an impression of how another set of combustive quantitative cocktails traded through their own fall resolutions. 
  • Taring up EWJ's current momentum profile with the comparative, it would indicate open road on the downside through November.