Yen rebounds strong in US morning as pull back in stocks intensify. In particular, NASDAQ appears to be rejected solidly by 14175.11 resistance. It’s down around -1.3% at the time of writing. The development suggests that consolidation pattern from 14175.11 is extending with another falling leg. NASDAQ could be heading back to 55 day EMA (now at 13429) and below. We’d see if such development could help push for a deeper pull back in Yen crosses.
