The U.S. Dollar/Japanese Yen currency cross is now breaching 100, which means the rare “Three Peaks and the Domed House” novelty pattern is still in play (discussed here). There is much more work to do to confirm the patter, but the reason why I bring it up again is because the Yen is still very, very, heavily-shorted. And I am not so sure after the success Yen shorts have had the past few quarters that they had accounted for the possibility of a vicious squeeze the other way.
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Hagakure
good book!