Market Overview Analysis by Michael Kramer covering: USD/JPY, AUD/JPY, US Dollar Index Futures, Tesla Inc. Read Michael Kramer's latest article on Investing.com
The move in the yen was broad-based across the market, and it looks like a massive unwind is taking place globally.
You rarely see 1% and 2% moves in a currency pair, let alone the numbers seen yesterday. More importantly, it places the yen in an essential place as it approaches the lows seen on July 18. A break of that support level could send the USD/JPY perhaps back into the low 150s. One could make a case that the inverse head and shoulders pattern is complete, and the stock is now reversing and heading back to lower levels. I wouldn’t be shocked if the stock moved back down to $200, based purely on the technical charts.were better, with no real surprises, and dull. The stock was mostly higher after hours until we got to that part of the earnings call when analysts asked about monetizing AI. That part really failed to impress; patience is key, which was the main takeaway.
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