The USD/JPY is just back above the 102.00 critical level to end the week. You can see how it coincided with the S&P500 also above the critical 1780 level. Some say there is no correlation between the markets and the carry trade. I would strongly disagree with them. If we see the USD/JPY back below 102.00 I don't have to tell you where I think the SPX will be. Just saying.
Below: The USD/JPY pair daily chart
Below: The US 500 daily chart
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