YEN takes a big hit?

Could somebody tell me why the Yen just took a big hit? Its tanking against everything!

The headfake break of the pennant formation on UJ is driving a short squeeze. Equities strengthening today is also helping the run. The rally will probably fail at the overhead resistance zone, 107.50 - 107.90.

Yeah Im lookin the same formation but the move seemed really violent for the time of day, and it was big on all the yen crosses as well!

fwiw, we hit that overhead resistance line on the pennant to the pip and turned back. I think we'll see a headfake break to the topside as well to stop out all the fresh shorts. Look to get short on that retrace.

Ive been lookin all week bu the candles are too big. I'm goin of 4hrs, probably have to go down to hourly to play the range.

Also, rumors circulating that the ISM services index was miscalculated and should have been higher. Could help to explain the dollar/carry/equity strength.

We got that break of the pennant, stopped at the monthly pivot, and now the retrace back inside. I took a short at pennant re-entry at 107.67, we'll see how this plays out.

It took a while but the breakdown finally came into play, currently +120. Did you ever go short?