“He ain’t pretty no more.”
The beautiful weekly bull flag on the Euro/Yen that we looked at just this morning has turned ugly this afternoon. It is a good lesson to always be an aggressive observer of the market without always feeling compelled to participate. We never had a buy trigger, and the afternoon swoon by the Euro with the Yen rocketing is a sign to really back off the action on the long side, as this mess needs time to heal.
_____________________________
does eur/jpy going down mean demand is lower for the Euro and higher for the Yen?
And thus mean that capital is flowing away from Europe and into Japan?
Or do I have it backwards somewhere?
That’s correct. Weak Euro/Strong Yen.
Great clip! Sent you an email with a vintage video of Lamotta vs Robinson 6.