When it comes to market sentiment and social mood we have seen that when there is fear or “risk off” sentiment the Yen increases as well as the CHF and Gold. That’s what happens when there is a threat of war, natural disaster etc. Here is another more educated view of what the pundits at HSBC are expecting to see by the end of this year. It’s kind of dramatic and although I cannot see it on the charts for the USD JPY I do see it on the AUD JPY, CAD JPY, CHF JPY, and EUR JPY which tells me that, as always, the USD JPY is the most distorted and lacks normal patterns.
