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: the Forex market reconquest
Information is not investment advice
Performance in 2020: +2.4%
Last day range: 109.55 – 110.44
52-week range: 104.46 – 112.40
Now that the Coronavirus is reducing its pace of expansion inside China and increasing its conquest globally, the markets woke up to the probability of having it at a pandemic level. The USD is no longer a bastion of safety as it used to be just until recently, and a pre-panic mode is engulfing the Forex market. For the JPY, it means getting back at the pedestal of safe-haven and enjoying high demand from currency investors. The Japanese yen is performing well against most of its counterparts, and the USD/JPY is the most vibrant example of it.
JPY is changing gears
The USD/JPY finally left the corridor of 109.65-110.25 where it takes rest from time to time since the virus broke out. Currently, it trades at 108.96, which flirts with the support of 108.70 and comes to test the mid-term upward trend of the currency pair. Going below 108.70 would mean the currency pair aims at 108.25 – if it’s there, it means the mid-term tendency of USD’s appreciation against the JPY is broken. But it will take a while before that. This Friday, we are likely to see the support of 108.70 tested; next week, the downside corridor between 108.25 and 108.70 will be in the agenda.
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