Nikke100 and USD/JPY - Are The Stock Market and xxx/JPY Ready To Rumble?

Gregor Horvat Wavetraders

Hello traders and welcome back to the US session!

USDJPY made a nice bullish daily candlestick and looking on the intraday, we can see a nice five-wave rally, so seems like more upside can be seen after that small three-wave setback, especially if we consider a bullish looking Nikkei since we know they are positively correlated.

Don't forget, even 10Y US Yield and 10Y JPY Yield are recovering which also suggest higher prices for Nikkei and USDJPY.

NIKKEI vs. USDJPY, 1h

NIKKEI, 1h

USDJPY, 1h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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