SPX500 and the USDJPY were highly correlated in the past month, but that seems to be fading away slowly. Although the S&P500 has been recovering from the lows, the USDJPY shows no sign of recovery at all. That should be taken as a bearish call for the dollar as it stands.
But: Looking at related ideas below you can see my FED Triangle Breakout chart. If the dollar index shows a strong rejection at the demand level, we could see a new rally for this pair, which will make it again correlated with the US equities index again. Both scenarios are plausible.
But: Looking at related ideas below you can see my FED Triangle Breakout chart. If the dollar index shows a strong rejection at the demand level, we could see a new rally for this pair, which will make it again correlated with the US equities index again. Both scenarios are plausible.
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