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  1. #1
    Legendry Member milos's Avatar

    The Japanese currency has strengthened !!!

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    The Japanese yen strengthened against other major currencies . There are expectations that the Bank of Japan further discounts monetary policy kept the pressure on the Japanese currency.

    Forex USD/JPY trades recorded during the previous bottom at 104.06 and subsequently consolidated at 104.35. Pair was likely to find support at 103.75 and resistance at 104.85.

    Yen is under pressure due to speculation that the Bank of Japan will have to expand its stimulus program in the coming months in order to meet the target of 2 % inflation by 2015. All board members were not convinced that the growth of the country on a long term upward trend.

    Investors also reacted to the comments Governor of the Bank of Japan Haruhiko Kuroda who believes that Japan's economy has not completely wiped deflation.

    The yen strengthened against the euro. Forex pair EUR/JPY dropped to 141.97. Against the pound and the franc the Japanese currency strengthened. GBP/JPY dropped to 171.06 and CHF/JPY fell to 115.39.

  2. #2
    Specialist Member RCox's Avatar
    The Japanese Yen has always been one of my favorite currencies to watch. Moves in the Yen tend to have little to do with what is actually going on in the economy because there has been almost no development there over the last several decades. Because of this, traders tend to view the Yen in terms of broader market sentiment and this tends to make it a much easier trade.

  3. #3
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by RCox View Post
    The Japanese Yen has always been one of my favorite currencies to watch. Moves in the Yen tend to have little to do with what is actually going on in the economy because there has been almost no development there over the last several decades. Because of this, traders tend to view the Yen in terms of broader market sentiment and this tends to make it a much easier trade.
    the yen has been a good trade for at least a year, since I first started watching it after a tip you put up on the forum. It definately makes much larger, broader movements than the typical currency and I concur that it is a bit easier to trade than currencies like the euro or chf which tend to remain range bound for much longer periods of time.

  4. #4
    Legendry Member milos's Avatar
    Forex USD/JPY fell to 104.14 per day from the bottom but it subsequently consolidated at 104.59.

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