EUR/JPY is a known gauge of market sentiment, same as copper is for economic growth. Markets go up, EURJPY goes up, markets go down, EURJPY goes down. It's a kn

EUR/JPY is a known gauge of market sentiment, same as copper is for economic growth. Markets go up, EURJPY goes up, markets go down, EURJPY goes down. It's a known correlation that hasn't been broken yet. Intramarket analysis is a widely popular field in the economics. Just because people are afraid it doesn't mean it won't happen. Every possible TA is indicating on further collapse to come this year, at most by the end of summer. Even Elliot Wave suggests it if you are into EW. Even fundamentals are all wrong, carry unwind just happened, dollar is surging because of the credit market collapsing, vix is going mad, ecb is incompetent/inert. ECB will try to do something, tomorrow I'm sure - but it's a bit too little too late. Avalanche had its first run this week. We'll see a period of consolidation for a week, to up to a summers end if we are lucky! People can downvote my first post, but they cannot ignore that chart and should not.