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Business / Finance

The foreign exchange market. The yen has nowhere to grow

Forex Club 24.07.2017 at 04:11

USD/ JPY slipped to a month low near 110,76. And this is considering that the Bank of Japan did everything to stop the yen's rise.

last week the Japanese Central Bank confirmed its readiness to further stimulate the economy with low interest rates and quantitative easing until, until you reach the 2% inflation target.

At the same time, this week we will observe the next meeting of the monetary policy of the fed. The market is upset by the string of weak us reports, which call into question the need to raise rates before the end of the year. Most likely, the decision, and even more optimistic comments on the US economy can dispel doubts about the resolve of the Central Bank of the United States.

But if so, it is possible to turn on the pair, which could trigger a wave of profit-taking on existing short positions. Immediate objectives for the USD/ JPY can be 111,70 and then mark 112,40.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee results.

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usd/jpy Forex club

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