Longer term, I am monitoring JXY for a potential breakdown below the incline support going back to June 2015 which would represent a continuation of the long term downward trend going back to the price peak of February 2012. A break below this level would mean a continued weakening of the Japanese Yen versus selected currency pairs and potentially sets up the country’s equity index, the Nikkei225, for an appreciation as constituents benefit from a weakening local currency.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.