Leading Indicator for JPY?

On above chart, JPY in white, Red/Green euro$ pack spread (2^nd year to 3^rd year).  It appears as if red/green, which is making a new low, is a leading indicator for JPY

 

 

• ABOUT:
  Former member of the CME specializing in interest rate options and yield curve strategies.

  The risk of loss in trading futures and/or options is substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance, whether actual or indicated by simulated historical tests of strategies, is not indicative of future results.