Fresh 7-year highs. At this time yesterday we were writing about buying a break of the double-top at 117.05. Blink and USD/JPY will be at 125.00.
Since October 16, USD/JPY has gained on 19 of 25 days. The worst decline on a closing basis was 61 pips and 173 on a peak-to-trough basis. There were some hiccups ahead of the Japanese election announcement but that has … Continue reading
Some of the bigger calls for how far the yen will fall, from the past few days, via Bloomberg: Societe Generale Albert Edwards says USD/JPY could reach 145 by March 2015 “Once you start to push on the dam, there’s … Continue reading
USD/JPY formed a short-term double-top at 117.05 after failing at that level in European trading. To me, it looks like it will break, if only because the second rejection only fell back to 116.34 before rebounding. But at this point, … Continue reading
Greg Gibbs from RBS is worried about a destabilization of the yen due to delayed deficit reduction and riskier assets in official portfolios. “..The policy actions of the BoJ and government actions to push private savings towards riskier assets at … Continue reading
The worst kept secret was let out of the bag with the postponement of the sales tax until 2017 and the call for an election. The USDJPY rallied in respect, but found willing sellers against the high from yesterday at … Continue reading
The NZD is the strongest currency in trading today.. There was no news, but favorable technicals and a weaker dollar and JPY helped the currency gain. The JPY is the weakest currency today as the sale tax was officially … Continue reading