The USD/JPY is up on the quarter three GDP print and therefore so is the stock market. I have been showing on my blog here that where stocks go, all depends on the USD/JPY and high yield credit.
The weekly chart is headed for the key level resistance at about 121.50. There could be some consolidation at this level given how extended the MACD is.
The daily MACD is looking like it wants to cross up so we need to see what happens when it gets to the resistance.
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