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hello traders ,
USD/JPY - Yen is one of the most traded currencies in the world, especially due to its low interest rate since the Yen is used in carry trades. Recently the Bank of Japan has expanded their purchase of Yen, hoping to overturn the deflation tide to inflation. Doubling this money supply is devaluing the Yen, boosting exports; but, increasing prices of imports at the same time, especially for commodities.
“The biggest (and most obvious) level that sticks out is 115.00/50 (range expansion level is 114.98 and inflection points in 2002 and 2007).” 115.50/50 was also outlined in Friday’s report. This is a good place for a reaction back into 113.00/50 before another rally attempt.
with regards ,
k h a n 1 2 3 .
USD/JPY - Yen is one of the most traded currencies in the world, especially due to its low interest rate since the Yen is used in carry trades. Recently the Bank of Japan has expanded their purchase of Yen, hoping to overturn the deflation tide to inflation. Doubling this money supply is devaluing the Yen, boosting exports; but, increasing prices of imports at the same time, especially for commodities.
“The biggest (and most obvious) level that sticks out is 115.00/50 (range expansion level is 114.98 and inflection points in 2002 and 2007).” 115.50/50 was also outlined in Friday’s report. This is a good place for a reaction back into 113.00/50 before another rally attempt.
with regards ,
k h a n 1 2 3 .
