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Forex: USD/JPY and S&P 500 Well Positioned for Risk Aversion

Forex: USD/JPY and S&P 500 Well Positioned for Risk Aversion

John Kicklighter, Chief Strategist

The tentative break in risk trends and swell in volatility for Monday did not provide automatic follow through this past session. Though, both the yen crosses and US equity indexes have made a distinct move to test former support as immediate resistance. You don't have to be a technical trader to recognize the implications that the continuation of an aggressive and possibly panicked unwinding of risky positions needs only a spark to set a market-wide trend in motion. Yet, with the Bank of Japan likely to ramp its stimulus efforts in April and the Italian election troubles on ice for a few weeks, there isn't a clear catalyst at hand. We discuss the fundamental themes, attractive technical setups and trading scenarios in today's video.

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