 Welcome back, folks. We've got markets in positive territory right now. We've got some action and a great day to have our man Teddy Kegstad on. From the Tiger Forex Report, we get some action in the dollar yen. And folks, we talk to Terry usually every Wednesday to treat. We got him on Friday at 40 past the hour. He puts out the Tiger Forex Report every Monday with a weekly issue updates throughout the week. When warranted, you can check it out under the newsletter tab on the front page of TFNN. You head on over there. You click on the Tiger Forex Report. You can sign up. It's $97 a month, folks. That comes with a 30-day money-back guarantee for new subscribers. And, boy, let's get into it. We got some action this morning. Teddy Kegstad, good morning. Good morning, Tommy. Boy, I woke up. I saw the news on Bank of Japan. I said, I love it, man. We got Teddy on today to talk about this. We've been talking about the Bank of Japan. So I really haven't talked about it too in depth yet, Teddy. But maybe if you could give us a quick summation. As I pulled this headline up, what the Bank of Japan did today and how that's impacted the markets and the pretty dramatic shift, it seems, from the headlines I'm reading. Well, the first thing is that Bank of Japan doesn't act very often. So the fact that there's news of any kind, that's where you get a shake up to begin with, you know? So I think it's a nice, it's a definitely nice tone, you know, showing that the direction that they've already started, you know, a while back is that, you know, remember that prior to this new dynasty, if you will, that's forming for the Bank of Japan, you know, they hadn't done anything or really released any news for really a very, very long time. It was basically, they were just, they just existed, you know? And since the spring, since we've had this new turnover and leadership, you know, we've had actual action. We've had an actual voice, you know, and a tone that, you know, is actually something where they're doing something, you know? So I think that's the biggest carry, their biggest takeaway you need to look at from the Bank of Japan is that they're actively doing things now. Now, is it aggressive? No, not by any means, you know, the fact that they're actually doing things, that means something in itself, okay? So, and I think that's the kind of perspective you have to take, like, I would equate to what's going on with the Bank of Japan right now with the tortoise and the hare. Okay, now we all know the story, the tortoise wins the race. Well, the BOJ is definitely the tortoise and like our Fed, if you would, whether it be the hare, you know? So I think that when it comes to the currency valuations and things like that, I wouldn't get to put too much weight fundamentally on what they're doing because of the fact that it's on such a lag, if you will. Nice. Now, I was reading your Tiger Forex report, and I know you always cover the dahlian among with many other pairings, of course. And in there last week, I think, or this Monday, I should say, you were talking about, you know, this area that we had in there back on, and I got a daily chart of the dahlian teddy, and I'm just looking at that recent low right July 14 somewhere above 137. And he was saying, you know, beside breaking that, right, I wouldn't look for a change of trend. And you talked about how it would have to be pretty dramatic shift in terms of the hawkishness that that would take. Is that something that you maybe saw here? Because we got quite a pop. We almost made it to 138 man this morning. And just like that, we're back to 140 51. So is this not really a change of trend that you're looking at right now on this type of action? Or we're waiting to correct, correct. Now, if the Boj would become very aggressive, you know, in their hawkish stance, then I would say that that downside breakout area where that swing low was from a couple weeks ago would be in jeopardy. Then I could see us getting back down to 135 132 area even, you know, which would be a big sell off for the US dollar yen. But right now, the Fed isn't really laying off the gas pedal, you know what I mean? Like they've they've decreased what they're doing. But there's still there's there's every reason to think that the Fed could jump on interest rates still going forward through the rest of this year, if numbers started to fall apart. We have a big unemployment number coming out next week. Like people didn't realize that besides the central bank action over the past few days between our Fed and the Bank of Japan, you know, these rate decisions are one thing, but we had an unemployment claims number that came out yesterday that's not going in the right direction for what the Fed wants. You know, so and I think that if the unemployment number comes out very strong, meaning lower unemployment, you know, that's going to be every reason in the world to think that the Fed is going to remain hawkish, and they're going to be at a much aggressive, more aggressive level than it than the BOJ is. And that's why I give you this analogy of the tortoise in the hare. So it's it's very good to have this transparency and see what kind of direction that the yen is going in. And I think that what it does do is take out that that valuation of seeing the US dollar yen really rally to an extreme. You know what I mean? If the BOJ didn't do anything over the past, you know, day or so, or even the last or even coming up in the next couple of weeks, it would really be hard to see the US dollar yen not try and push back towards those highs that we made a couple of months ago. We still have a good chance of getting to those highs, but we're probably going to establish a range. I don't think we're going to spike through them. And if we do, you're going to see a very quick head fake. If that makes any sense, you know what I'm saying? Like so that that that's fundamental factor, the differential between our interest rate moves and our hawkishness versus their hawkishness, we're still the stronger ones there. But the fact that they are playing now means that it is a big deal. It means that we're we're not going to be able to accelerate in strength, you know, in that trend. Because remember, when the dollar was weak versus many other currencies, it was still strong versus the yen and has been over the past couple of years, let alone the past few months, you know, and I think that's something you have to really take a look at is that now we may not be as strong against the yen as we have been, you know what I'm saying? The trend is still bullish. I'd be very cautious trying to be a big seller on this one. You know, the only thing I would say is that the Fed all of a sudden said, Yeah, we're not going to raise rates for the next like four or five months, you know, or even just the next couple of meetings, whatever, then you might see us hit those lows pretty hard. But otherwise, I think we might be actually establishing a wide range trade. Yeah, pretty interesting, man, the volatility and we're back above 140. And boy, yeah, when I do take that chart back to even, you know, beginning at 2021, I got almost 100 on my chart. So still sitting at about 140. Pretty remarkable. What do you want to jump to next? Can we talk some some euro maybe? I mean, pretty interesting week, right? We get the shirt, we get the ECB. To follow, we got the euro at about 110 right now, a little bit of downward action. Yesterday, what did you think of the action of the euro yesterday? Well, you know, all the I have to say all the currencies had some phenomenal volatility the last couple of days. And a lot of it has, you know, I heard you talking about the tenure earlier this morning. And the interest rates have a lot to do with that. You've had a lot of movement in, you know, the long and short term interest rates, which definitely will cause the currencies to move like that. You know, as that volatility increases to that, when they start to hit those extremes, like you mentioned, a two point move in the tenure, that's an extreme move, you know, especially not off of anything that would really cause that shake up, you know, I'm saying and it's all right, right? I mean, and you're also pushing those higher yields, you know, and that that's where you get this, this, you know, fundamental aspect of the trade starts to come in, you know, like we've been trading very technically for the past couple of weeks. And the fundamentals, you know, I remember a year ago saying how like the economic numbers are very, very big, you know, and and you have to watch like when they like the euro, especially when the German numbers come out in the EU numbers, they haven't been very good, you know, and they're not tracking they're not tracking in a good direction. And the thing is they don't have the bullets like we do. And I think that we're going to start to really see that inflection. So when it comes to like the euro, you know, it's it's it's it's stuck. It's I can't see it getting very strong versus the dollar no matter what they do, you know, no matter how hawkish they get, you know, it's because of the fundamentals, you know, so it's tough to compete with the numbers that we're putting out, man, whether it's the GDP numbers, some of the earnings numbers, pretty strong earning season, man, these companies, they keep crushing it to say the least. Teddy, I appreciate you coming on, man, on quite a day. If you look forward to talking to you next Wednesday, have a great weekend. And folks, check out the TigerForex report. Teddy, I appreciate it, man. We'll talk to you next Wednesday. Okay, take care of nice weekend time. Have a great weekend. Folks, check out TigerForex report. You heard it currency, man. They're moving. We've got one more segment. We'll be right back to finish up the show.