The moving-average crossover to the downside isn’t the only chart signal to suggest the uptrend is reversing — and that government intervention may have actually worked A “death cross” looks set to appear in the chart of the dollar-yen rate, suggesting the long-term uptrend is reversing. Don’t look now, but there are some technical reasons to believe that U.S. Treasury Secretary Scott Bessent was right when he declared to the financial markets that “I am the house now.” Not only has the upside momentum apparently swung to the Japanese yen , and away from its U.S. dollar counterpart, but a chart pattern ominously known as a “death cross” is developing — it’s likely to be confirmed early next week — that suggests the rapid uptrend in the dollar-yen rate, which threatened Japan’s economy and is unwanted by the Trump administration, may have actually reversed.
Copyright ©2026 MarketWatch, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Microsoft’s stock has roared back to life, closing at its highest level of the year Trump’s ban on Canadian alcohol starts Tuesday, but these well-known brands will avoid it Apple’s expensive new iPhones could be a double-edged sword for the company Micron investors should get ready for a seesaw ride, analyst says Tesla’s stock falls as launch of Semi truck fails to excite investors Tomi Kilgore is MarketWatch's managing editor, markets, and is based in New York. You can follow him on Twitter @TomiKilgore.
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