JPY Carry Time Bomb: VIX About To Detonate?

JPY moving

We’ve seen massive moves in the JPY since late January. For now, the crowd is treating it as a local story, but whenever the yen starts moving aggressively, you pay attention, because it rarely stays local for long.

Overnight we sliced through the 100-day MA and are now trading right on the trend line that’s been in place since last April. A decisive close below opens the door to the 200-day, coming in near 150.50.