 To talk about some of the market action, we're going to jump over to our man Teddy Keggs at folks. Don't forget, you can check out Teddy's Outstanding Tiger Forex Report right under the Newsletters tab. You can subscribe. It's $97 for the month. He's got new issues every Monday, folks. He's got issues throughout the week when warranted. It comes with a 30-day money-back guarantee. It comes with an archive webinar that you have out there as well. And if you're into candlesticks or you want to learn more about options as well, check out a couple of the great webinars he has under the Services tab, talking about capitalizing on time with calendar stock option spreads and Japanese candlestick pattern stock and option strategies. He's written a book on candlesticks, and we're going to talk some forex though today. Teddy Keggs at. Good morning. Good morning, Tommy. So we got a little bit of a chop in this market right now. We got the dollar at $104. Markets kind of chopping around. Just under the highs we're red today, but man, it's been quite a positive market. Crude a little bit higher. That's one thing that's moving. Where do you want to kick things off this morning, Teddy? Well, if you want to talk about any action, I think we have to talk about crude because as a whole, the FX markets are going kind of flat line, and that's because rates are a flat line. I mean, if you look at the short and the long-term ends of the curve, nothing's really going anywhere, and if rates are a functional value of currency pricing and since rates are going nowhere, currencies are, except for currencies like potentially the US dollar-yen relationship because of the crude relationship. That's where I think we have a little story if you want to go on that one. You know, that's it, and I didn't even plan on it, but I remember the first time you started talking about this, even when I was doing the program with my dad and you were talking to us, right, and you were walking us through kind of the fundamental nature of whether you're a producer, a user, consumer, crude, and how that impacts and the great example that you give of kind of the dollar to the yen. If you could just walk listeners through that, Teddy, when you just make that reference, because I know not everybody kind of understands why what happens with crude is going to impact whether it's the dollar and the yen and why so. Could you walk them through that? Because that's a great one, man. I remember the first time you educated us on that. Absolutely. Okay, so it's not that it's always a relationship, but there are times when it becomes one. Right now is the case. You have a look at Japan. They do not produce oil. They're a big industrial complex, so they use a lot of oil, okay? So they have a demand for it. Oil is priced in dollars predominantly still across the globe. We are one of the biggest suppliers to Japan of oil. So that fundamental relationship becomes integrated in the pricing of dollar and yen relationship, okay? So just how interest rates are a function of any currency, depending on the central bank, oil becomes a factor when it comes to the US dollar-yen relationship. So the fact that not only are they importing, it's not just their demand, but the pricing impacts that currency relationship. So as oil breaks out to the upside, that happens to make the dollar more expensive, which makes the oil also more expensive, okay? So it's a double-edged sword there where it can accelerate a trend or it can decelerate a trend. In this case, with it doesn't matter, right now you have no fundamental dollar strength or weakness because interest rates are kind of going flatline. So that relationship is right, just going nowhere. But now you have the demand function for dollars and oil that changes everything. So for the US dollar-yen relationship, that makes it very bullish. And like especially right now, we're at that 150 critical threshold level for the Bank of Japan, that's where this becomes very, very important because if crude was say $6 lower and rallying up towards $150 because of the price in oil appreciating, it wouldn't be such a big deal. But because we're above the $150 mark right now, that's a big deal because the central bank or the Bank of Japan does not want the US dollar-yen relationship to be above there, okay? So now are we going to see any type of intervention by the Bank of Japan? I don't know, let's see. But I think that especially right now with oil where it's at, we're breaking out to the upside, like I had the $70 to $75 range was holding for a good time. Now I think we're going to raise that range to about basically $80 to $84. And if we get above $84, well then we have a really big deal because then you can see the US dollar-yen if there's no BOJ intervention trading up at 153 to 154. And I'm not talking about like two months from now, I'm talking about like let's say crude rally is $6, $7 over the next week and a half. Well then you'll see the US dollar-yen probably trading at 154 within that timeframe. And that's without any interest rate move. If yields actually go up at the same time, like if you start to see that it's a 10-year and especially the short-term start to hit the hammer the lows, meaning yields go up simultaneously, well then for sure I can't see how you would not see the US dollar-yen trading at least 153 to 154, maybe even spiking up at 155. And that's a currency trade that I think is a very viable trade on the table right now because these markets are in play because everything else is going sideways. You know, I always say that the biggest indicators for the markets are the markets themselves. You know, I mean, if you want to use, you know, whatever mathematical formula, God bless you and I hope it works for you. But if you want real-time, you know, indicators, look at the markets and there's a correlation between many of them. And that's the trade right there is the crude dollar-yen trade. It's in play right now. It hasn't been in play for a while, but now with oil spiking to the upside and looking to where it really could hold a trend to the upside. And I'm not saying that we're going to go up to 100 bucks, $110 anytime soon. But let's be real, higher highs and higher lows is what? It's indicative of a bullish trend, right? For sure. And listen, that was an awesome wrap up, man. For those that, you know, there's so much good information. If you didn't understand it completely, because I had to hear it a couple times myself, folks, over the years, we archive everything we do. Every interview I have with Teddy, it'll be right on the TFN YouTube page. Search it out because it is so cool, man. And I think a lot of us have gotten a real education in terms of how we've just had such big rallies and pullbacks in yields. And we've seen what that's done to the dollar and how those relationships move, but it's pretty cool the way you just explained it. And it was such a great job, man, so thank you. Thank you. In the same way that just like we're going after yield with our currencies, right, you're using dollars to buy yield in America as it rises or whatever, you're using dollars to buy crude, which we're producing. And if you're in Japan, you're not producing, man, you're consuming it. So you have to take those yen, put them into dollars and buy our crude. And that's it exacerbates things, which is so cool. Yeah, and as I started off, I saw that we were just chopping around, man. Pretty interesting that crude might be the story of $80 and how that impacts things. Anything else you're watching ahead of the inflation data tomorrow? I know, boy, you've been calling it pretty well in terms of the Fed, where they are, where they may end up in terms of not cutting at least or potentially hikes, but you're looking for any of these surprises. How do you trade something like that or do you? Absolutely. I think that you really have to watch out for the ISM number on Friday, that I think that's important. So it's kind of be, it's tough when we're in sideways markets like this, especially for the currencies, because they trend typically most of the time. I mean, writing the forex report right now is not an easy job when you're saying like, sorry, guys, there's no trade on the table right now. And as a trader, the hardest job really is not knowing when to trade, it's knowing when not to trade, and you can't force it. And as something right now, there's no opportunity, the opportunity will come. You just got to be patient. Teddy, man, that was so awesome. I appreciate you walking myself and the listeners through that explanation. I know a lot of people, I'm sure, really learned a lot. And we appreciate the interview, the update as always, and look forward to talking to you next week, man. Sounds good. Take care, Tommy. Thanks so much.