US Dollar Cedes Gains to Japanese Yen on Safe Haven Plays

Posted on Posted in Currencies & Forex

 japanese-yen-symbolThe China Syndrome , North Korean announcement of a hydrogen-bomb, and Middle East tensions between Saudi Arabia and Iran are just a few of the dramas playing on the sentiment of investors. All the world’s a stage and in the theatres of geopolitics and capital markets, the Yen (USD/JPY) currently has center stage. All eyes are fixed upon it as it is currently testing support, which if violated could send it to a level with a 116 handle. Think about the crowd’s reaction if such a trouncing of the US Dollar were to occur. The Nikkei 225 and the SP-500 will be booed off stage and pelted with rotten stocks (of Apples (AAPL) and whatever else bears can find to throw at the bulls).

Hillbent on the Market Direction… 😯 

 

Japan Yen 1-6-2016
Click to enlarge

 

Related securities: SPY, EWJ, UUP, FXY, SP-500, Nikkei 225, USD/JPY, AAPL

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