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Forex: Pivotal Time for Markets Next Week as USD/JPY, S&P 500 Toe Cliff Edge

Forex: Pivotal Time for Markets Next Week as USD/JPY, S&P 500 Toe Cliff Edge

John Kicklighter, Chief Strategist

A sharp pullback from the S&P 500 and the biggest weekly drop from USDJPY in nearly three years this past week has put the markets on edge. For the first time in months, we are seeing a serious enough threat to to the passive risk appetite grind that a lasting and market-wide unwinding looks like a very real probability. All of the fundamental elements are there: extreme price levels, excessive leverage, record low rates of return and troubled economic conditions. However, against the backdrop of a dedicated wave of stimulus; speculative selling must be a committed move. That can be problematic given the holiday weekend. We discuss the key fundamentals at play and the trade opportunities should they play out or not in the weekend video.

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