Seems to us that the BOND MARKET is dancing to a different tune. The price action is indicating that rallies in RISK are to be FADED. This is the chart of the LONG BOND.

It is showing an ATTRACTION ZONE of an A-B-C extension that looks very possible. The CORRELATION between this asset and USDJPY is very strong.

There will be a BATTLE on the support line in USDJPY, we feel it eventually GIVES and we see 110.00 or under.

We maintain our CORE SHORT USDJPY position and want to ADD TO IT on rallies.

This is a trade we want to carry into year end.