Le blog A Lupus un regard hagard sur Lécocomics et ses finances

Asia x/Japan equities began to to work off overbought conditions.

Japan’s Nikkei continues to reprice higher on weaker yen. Italy’s MIB and Spain’s IBEX experiencing the « positive contagion »  from Eurozone sovereign spread compression and now approaching an 80 RSI.

Profit taking  in the dollar/yen was met by buyers.  We could be wrong but this move feels different and $/yen may remain overbought for a while.   Note we have changed to the market convention of quoting $/yen rather yen/$.

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