Disconnect - AUDJPY the tell for incoming RISK OFF

AUDJPY, traditionally a marker for risk on/risk off has shown a complete DISCONNECT from equity indices (SPX = orange line) over the last 3-4 months.
This rally in stocks is UNSUSTAINABLE.
AUDJPY today potentially turning lower and could pressage a turn around for stocks over coming days/weeks.

הערה:

Well AUD/JPY was once again a great lead indicator for risk off/stock sell off. Thanks AUD and JPY.

הערה:

AUD/JPY continues to be the canary

הערה:

AUDJPY ....was the tell.....8 weeks ago seems like a lifetime in these markets