Japanese Breach

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The most interesting thing that happened overnight is the Japanese Yen strengthened against the US dollar, causing the USD/JPY chart to finally slip below the Fibonacci level that had provided support for so long:


This has sent the Nikkei index tumbling by over 300 points. It wasn’t that long ago such an event would also have U.S. equity markets down hard. But today? HA! Are you kidding me? Even a cataclysmic-sized meteor that’s about to reach Earth in 7 minutes wouldn’t budge our stupid market, whose ES is down 3 1/2 lousy points as I’m typing this.

Thanks to the weaker dollar, gold is strengthening, however, although it’s nothing game-changing; it’s been in the vicinity of this price for weeks now.


As a bonus, here’s something Japanese that also caused a “breach” in Rio. This is exactly the reason I’ve never had a chance as a pole vaulter.