The Yen is at a crossroads. If the yen break down through the lower boundary of the wedge pattern then expect some serious change in the YEN, i.e. weakening. Until then we should watch how things play out. A weaker Yen would indicate severe GDP weakness after the FUKUSHIMA incident due to collapsed exports.
The Euro resembles the DXY (Dollar INDEX) chart and looks ready to roll over. If the Weekly neg Div. fails (big red decending line in the Weekly EXH chart) then we should expect some temporary acceleration of the Dollar devaluation !!! The Base Case expects the neg. Div. to hold entailing some EURO weakness.
The AUSSIE as the ultimate Commodity FX seems also ready to roll over, which bodes ill for the Commodtiy complex.
The above confirms our statement that all Markets are ticking to the same tune and this ticking has accelerated like a bomb trigger......
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