Quarterly Outlook
Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Technical Analyst, Saxo Bank
Monthly chart shows how the 5th extended in USDJPY has almost reached the 2.0 projection of the 4th corrective vawe which is 152.90. If USDJPY reaches 157 it is the same distance as the 3rd vawe. However, no strong resistance until around 160.
RSI is at extreme level above 82 with no divergence indicating higher levels. The uptrend is very stretched however, and more volatility should be expected, both due to Central Bank intervention and profit taking.
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity