Nikkei v USDJPY

This quote from Nick Leeson today was one of the funniest things I have seen this year.  I give this quote of the year.

“Nikkei225 at highest level today since 1996 – probably not far off my break-even point. If only they’d waited!!” ~ Nick Leeson. via twitter @TheNickLeeson 11/11/2017

(Pic-www.nickleeson.com) Nick Leeson the original Rogue Trader whose unchecked risk-taking and drive for success caused the collapse of Barings Bank in 1995.

Could this be a weekly double top of the Nikkei?

This is going to be very interesting to see who wins out of the Nikkei and USDJPY correlation. There is a 16% divergence at the moment with the yen on the rise at time of writing. This should be bearish for the Nikkei. Lets see.

We have seen a weekly double top before like this in early 2000 at this very level and it did not end well for the Nikkei with a fall of 63%. Just saying. Lets see.

 

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