VIX (Red Line) is now at 27.49. This is not the highest that VIX has attained for the past one year. We have seen the VIX went as high as 37.5 in Aug 2007 and Jan 2008 respectively. Nevertheless, VIX is moving up and that is not a good sign.
The USDJPY (Green Line) is now at 102.83. It is now very close to the lower end of the down trend channel. The good news is USDJPY has rebounded from 101.41 and the hourly chart we are seeing a higher low. If it breaks 103.23, then it will make a higher high. That will be good news for the bulls. However do note that USDJPY is still clearly in a down trend and any rebound will most likely not be sustainable.
The DOW has broken through 12,000 which is a critical support level. It is now at 11,893. That is very near the Jan low of 11,508. Let’s hope that 11,508 can hold water.
The USDJPY (Green Line) is now at 102.83. It is now very close to the lower end of the down trend channel. The good news is USDJPY has rebounded from 101.41 and the hourly chart we are seeing a higher low. If it breaks 103.23, then it will make a higher high. That will be good news for the bulls. However do note that USDJPY is still clearly in a down trend and any rebound will most likely not be sustainable.
The DOW has broken through 12,000 which is a critical support level. It is now at 11,893. That is very near the Jan low of 11,508. Let’s hope that 11,508 can hold water.
1 comment:
Interesting post on dow usdjpy
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