Thursday, March 10, 2005


USD/JPY In Contracting Triangle

A feature article at EWI has a nice chart of the US dollar versus the Japanese yen. It is their opinion that the 103.83 level, which was breached today, is bad news for the dollar.

The dollar does seem to have broken down with few defenders, even within the federal government. The publics complacency about a dollar collapse is interesting and I expect that will change if we get below 100 yen. It wasn't that long ago that the exchange was 120 yen to the dollar and 140 Swiss francs to the dollar, which slipped again today to under 116 francs.

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