Sometimes you get broadsided by a headline. USDJPY tumbles lower after Mueller headline

Sometimes you get broadsided by a headline. USDJPY tumbles lower after Mueller headline

Stocks lower too

The Mueller head line that he has subpoenaed Trump organization on Russian, sent the USDJPY through support at 106.158-17 and than also the 106.00 level.  The pair looks toward the lows and a lower trend line on the 5-minute chart. The ideas
expressed in the prior post, got broadsided by the headlines. The longs exited. 

At the same time, stocks have moved lower as well. The Nasdaq moved down -30+ points. The S&P has moved down about -8 points at the lows.  They are recovering a little off the lows but remain negative.

The Pavlovian reaction to these types of headlines spooks the market.  It does not tend to keep the market down, but you never really know how long the impact will last and whether it starts to lead to an avalanche of bad/worse news going forward.  

Maybe it is time to focus on some March Madness….Oklahoma vs Rhode Island go into overtime..

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