Long term charts of USD pairs support DXY bulls? USDJPY
Price clearly broke out from this massive falling wedge last summer.
You can see January's "Yen Flash Crash" looks like an attempt to move price back inside the wedge. Price has broken out once again after bouncing off the Monthly 200 MA.
A similar break above a smaller wedge in 2014 resulted in a 2000 pip move to the upside.
This is just one of a handful of major USD pairs displaying a bullish technical setup for DXY, which is leading me to believe the dollar is situated to move higher.
If the Fed can create trillions of dollars to give to the banks for assets it will never be able to liquidate in order to inflate the stock market, nothing is stopping the big banks from from buying up the dollar.
After ending QT and Trump running the highest US deficits in history, the possibility of interest rate cuts and more QE the dollar still rises....
You can see January's "Yen Flash Crash" looks like an attempt to move price back inside the wedge. Price has broken out once again after bouncing off the Monthly 200 MA.
A similar break above a smaller wedge in 2014 resulted in a 2000 pip move to the upside.
This is just one of a handful of major USD pairs displaying a bullish technical setup for DXY, which is leading me to believe the dollar is situated to move higher.
If the Fed can create trillions of dollars to give to the banks for assets it will never be able to liquidate in order to inflate the stock market, nothing is stopping the big banks from from buying up the dollar.
After ending QT and Trump running the highest US deficits in history, the possibility of interest rate cuts and more QE the dollar still rises....
