I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
JPY: Forex reconquest - take two
Information is not investment advice
Last day range: 107.36 – 108.37
52-week range: 104.43 – 112.40
We have spoken about the JPY’s return already, and now we need to speak of it again. Why? Look at the chart.
There is hardly any other currency on the Forex market against which the USD lost so much value in the last weeks. The US Dollar was at 112.22 on February 20-21, and just touched 107.40 recently – that’s an almost 5% loss in just two weeks. By the way, current disposition may be a good chance to apply the 30-pips-a-day trading strategy, even though it normally is used on shorter timeframes - now may be a good moment to act on it. But let’s put things into the context and have a mid-term perspective.
On the daily chart below, the recent drop takes the currency pair to challenge the November-2019 lows next. The closest one lies at 106.60 and seems not that far away, especially in the current circumstances. If things go really bad for the USD, the August-2019 low of 105.00 will be waiting down there. Nothing the Fed’s readiness to react to the virus consequences by reducing the interest rate on March 18, keep your hand on the pulse and watch the dynamic: if there is no change in the global economic rhetoric, the pressure will keep dragging the USD down in the mid-term, and JPY will be its best counterpart to indicate where the market goes.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus