by Pater Tenebrarum
The Yen Breaks Out
A few days ago we discussed the yen’s trend change and what appeared at the time to be an imminent breakout. This breakout has now actually occurred, and looks quite convincing to us.
If a pullback to the former resistance (now support) area highlighted below should occur, it should probably be bought. This may not happen, but given that Kuroda-san is probably not happy with this move, we expect him to act to counter it, which could induce a correction and retest.