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Happy Wednesday Everyone!
In light of the first “real” day of trading for the week…I will not address any commentary today on the Inauguration….except for our large Yen/Equities Correlation.
(I thought we would wait out the rest of the Big Day…hence why I waited and decided not to do an Intraday Update as promised in the previous Post.)
The 330-point drop in the Dow yesterday was the largest on record for an Inauguration Day of a new U.S. President.
Since we know the Yen Crosses, Risk Appetite and Risk Aversion, and the Equities generally correlate in concert on the Macro-Term…let’s check to see just how long the Ski Slope of “Inauguration Hill” really is!!!
Picking up where we left off…the Crosses really are self-explanatory today….but I do have a special “Term” for you!…
“DOWN!”… hee hee hee 
Both the Euro Yen and the Pound Yen have been “Basing” at various Key and Dynamic Levels over the last few weeks…and yesterday…they literally hit the Jackpot!
With reaching Key Multi-Year Support levels…we really need to see where we are on the Larger Time-Cycles.
We really have nothing to “support” us here…since we have crashed through the April 1995 Support Low on Pound Yen…and the 115.85 massive Daily Support on Euro Yen.
Commentary/Analysis on the Charts, so be sure to give them a Click!
(Post-Time is 3:30 GMT)
Here’s the Euro Yen Views…
When the U.S. Equities markets open…we will see how we fair along here…and we WILL check in for an Intraday Update on some tighter Time Cycles.
Perhaps the retracements we are seeing already will fully materialize…
Then again…
The Yen sure is enjoying His Downhill Skiing, isn’t He!…