Are Japanese Yen And Commodities Both Breaking Down?

Oil Markets Are 'Anxious' About OPEC's December Meeting. Here's Why

Are Japanese Yen And Commodities Both Breaking Down?

By Chris KimbleForexJul 12, 2018 08:28AM ET

www.investing.com/analysis/japanese-yen--commodities-both-breaking-down-200330566

Are Japanese Yen And Commodities Both Breaking Down?

By Chris Kimble | Jul 12, 2018 08:28AM ET

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Japanese Yen

The above chart looks at the Japanese Yen and the Thompson Reuters Equal Weight commodity index over the past 9-years, which reflects that the long-term trend for both remains lower.

Both peaked in 2011-2012 and declined for the next 5-years. Both bottomed in 2015-2016 and a have rallied over the past 30-months. Correlation between the two remains decent.

The decline in each of late has both testing 30-month rising support at (1). Is a breakdown in play? At this time it is too soon to tell. For sure an important support test is in play!

If both break support at (1), selling pressure could increase, suggesting that the long-term trend continues to influence both. Commodity bulls want to keep a close eye on both of these in the very near future, as these support tests look to be very important for portfolio construction.

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Central Banks

Interest Rates

Next Meeting

FED

2.25%

Dec 19, 2018

ECB

0.00%

Dec 13, 2018

BOE

0.75%

Dec 20, 2018

SNB

-0.75%

Dec 13, 2018

RBA

1.50%

Dec 04, 2018

BOC

1.75%

Dec 05, 2018

RBNZ

1.75%

Feb 13, 2019

BOJ

-0.10%

Dec 20, 2018

CBR

7.50%

Dec 14, 2018

RBI

6.50%

Dec 05, 2018

PBOC

4.35%

BCB

6.50%

Dec 12, 2018

S&P 500 Futures	2,742.25	+7.75	+0.28%
S&P 500	2,736.27	+6.07	+0.22%
Nasdaq 100	6,867.02	-23.43	-0.34%
Dow 30	25,413.22	+123.95	+0.49%
SmallCap 2000	1,527.81	+7.82	+0.51%
S&P 500 VIX	18.14	-1.84	-9.21%
FTSE 100	7,013.88	-24.13	-0.34%
DAX	11,341.00	-12.67	-0.11%

Crude Oil WTI	56.83	+0.37	+0.66%
Brent Oil	67.00	+0.38	+0.57%
Natural Gas	4.377	+0.339	+8.40%
Gold	1,222.00	+22.80	+1.90%
Silver	14.390	+0.438	+3.14%
Copper	2.791	+0.042	+1.53%
US Soybeans	892.50	+3.90	+0.44%
US Wheat	506.75	+1.15	+0.23%

SPDR S&P 500	273.73	+0.71	+0.26%
VelocityShares Daily 2x VIX Short Term linked to S	42.02	-4.28	-9.24%
Invesco QQQ Trust Series 1	167.50	-0.59	-0.35%
Direxion Daily Junior Gold Miners Bull 3X Shares	7.20	+0.28	+4.05%
VelocityShares 3x Inverse Natural Gas linked to S&	3.34	-1.36	-28.94%
ProShares Ultra VIX Short-Term Futures	54.1200	-4.0200	-6.91%
ProShares UltraPro QQQ	49.65	-0.55	-1.10%
VanEck Vectors Gold Miners	19.3800	+0.2900	+1.52%

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ADA/USD	0.060854	-0.000203	-0.33%
XLM/USD	0.24300	-0.00101	-0.41%

Are Japanese Yen And Commodities Both Breaking Down?

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