Wednesday, February 4, 2009
EUR/JPY Leading The Way Down
Over the last few months, the direction of the EUR/JPY currency pair has been an excellent leading indicator for the US stock market. This morning it is moving down impulsively after completing a 3 wave rise yesterday. A move below 113 will confirm the downtrend and suggests that the next major move in US indexes will be down.
Posted by R. Craig Pritchard at 6:44 AM