Traders and investors, keep an eye on the yen

Whether you are trading shorter-term (swing trading too), or position investing, keep an eye on the yen. If I'm right and $XJY (and the ETF, FXY) gets support here, or bit lower (soon), and then resumes uptrending, that can be a significant signal for equities and other markets too. Here is the hourly chart, where you can see the indicators confirm there's bullish potential but we need to see it clear that 50-hour moving average:



And here are the daily charts for $XJY and FXY. You can see that, coupled with testing that uptrend channel line on the daily (and price-level support in the area 99-101), there's also that 200-day moving average to contend with:

If $XJY rallies up, then the next big question will be whether it can clear that 111.49 level we identified on the monthly long-term charts as a key to whether or not it moves to much higher levels (such as the 125-138 range).