Why you should pay attention to the crashing JPY
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JPY @ 128...20 year lows
It is hard to find superlatives for the latest JPY move, but when a huge asset class (third most traded FX globally) moves like this you need to pay close attention. The longer term weekly JPY chart has crushed massive levels and has continued to weaken on a daily basis. The latest comments from Bullard aren't helping the JPY. We are trading well above the break out level at 125. Next level to watch is the 130 area. Note the weekly RSI at extreme levels, not seen since 2013.
