Happy Tuesday Everyone!

Well… the Dow falls about 3.4% as well as the S&P 500… levels we have not seen in the Indices since around 1997 on the back of all of this Macro-Economic turmoil and uncertainty.

While the Japanese Prime Minister clocks in for a visit with President Obama, his beloved Currency continues to weaken in this latest Battle with it’s Risk-Averse Brother, the Dollar.

The Yen Crosses have resumed their normal course of “Risk-Averse” Price Action to the downside as well… with Yen Strength for the last few hours… indicative of clear Reversals of Risk Appetite that we saw all day Monday.

The Dollar Yen “Master” here is at very interesting levels, and while in most cases… the “Master” descriptor is accurate.

The USD/JPY will usually “lead” its’ own Crosses and correlate nicely… EXCEPT in period of Risk Aversion like we have spoke of for months.

What is significant is the Daily Double-Bottom on Dollar Yen… and this Momentum was able to “bleed out” into its’ Sister Crosses… Pound Yen, Euro Yen, etc.

” Yes Yes, CVJ!… We know already!… The whole “Counter-Intuitive” thing!.. the whole “Strong vs. Stronger” idea with the Dollar and the Yen…. We get it, Man!… We’re trying to get ready for Spring Training Baseball right here in Phoenix, and cannot be bothered with all of these details!”  , the CVJ Fan Club Guys say with indignation.

“Relax, Guys!… Plenty of time for a few Games soon!”… hee hee hee….    

Seriously… First Things First, as always… Let’s see where we are with the Dollar Yen Unit.

Give the Captures a Click, and Post-Time tonight (for me) is 2:45 GMT.

Now… as of my Post-Time as we usually see each evening … we have a “Turning of the Tide” as they say… with Corrections resolving and Directionality continuing again… So our Asian/European Session Update will “Tell the Tale” here…..

We have some interesting criteria to work with here, so let’s check back later, as always, and see where we are!