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Business / Finance

The foreign exchange market. The yen will rise for three reasons

Forex Club 26.09.2017 at 10:23

USD/ JPY encountered strong resistance in the area 112,70 and then not ready to go, despite the fact that the dollar is experiencing strong demand in connection with the expectations of the fed funds rate.

there are several Reasons. First, geopolitics. North Korea and the United States continue to exchange threats and insults. Given the degree of adequacy of the leaders, the market may be nervous for quite some time, and then will run to safer assets. For example, in the yen.

second, pair been growing a long time and it's time for a trivial correction from the strong resistance level. A correction in USD/JPY often make 100% of the previous movement.

thirdly, the position of the US dollar. Yes, last week the Central Bank sounded upbeat and aggressive. But how does this compare with reality? It is to be tested. Moreover, recent comments from fed officials sound not so aggressive as before. And Dudley and Evans gave hints on what to hurry with the tightening in the future may not be meaningful. Today we get a new batch of comments from Janet Yellen, too. If the market will see shades of "softness", it will strengthen sales of USD/JPY.

In this case, the next goal for the USD/ JPY may be a mark of 111.00 and then 110,40. For those who want to receive signals on the pair for a one-month period, connect to the new investment idea of " North Korea vs USA. Win yen ".

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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