Stocks found some resistance in the last few sessions as US yields keep moving higher. However, the notice that yields are coming out of a triangle so it can be a final leg up in a higher degree sequence. If that’s the case then resistance on yields is coming. USDJPY also has five waves up into 150 level, so watch USDJPY trendline near 149 that must be broken for a weakness. If Yields will continue to rise, then USDJPY will most likely do the same, and then SP and even bitcoin can fall. They are lagging a bit. However, shorting JPY here is a bit danagerous as BoJ may interven any second; the question is if maybe alone, or will other CB join which should then have much greater impact.
