Choosing the "Right" Yen Cross
Those Premium subscribers who received our S&P500 overlay charts between 2007 and today, sent in late December, were warned of our expectations to the path in the major US indices, highlighting striking divergence in the momentum, trend and magnitude between then and now. Despite minor differences on momentum, the path charted by the S&P500 and its US counterparts displays a high level of convergence. Among the several options in yen crosses, we select a new pair in today's edition of the Premium Insights. After realizing a total of 260 pips in last week's CADJPY shorts, we raise the question as to whether to keep on shorting CADJPY or to move into another pair, which has more downside potential. The 2 trades and 3 relevant charts are in today's Premium Insights.
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