Mario Draghi's "whatever it takes" has failed... [5]and USDJPY breaking its most significant trendline suggests Kuroda is about to fail too...
- *USD/JPY TRADES UNDER 122.00 FOR FIRST TIME SINCE JULY 13
It appears the massive Long Nikkei/Short Gold trade [6] is unwinding in a hurry...
[7]
Remember, this trade - as we detailed here [6]- which draws together a complex web of interactions between Japanese equities, the gold market, repo financing, BoJ monetary policy meetings and anomalies in the silver market.
Charts: Bloomberg
