Japan central bank today decided to keep its QE of Yen 80 Trillion, in its continued goal to reach its target expectations for inflation. This obviously puts more downward pressure on the Yen.
Tomorrow Balance of trade figures are also out with a forecast Yen 1,372 Billion in the red which would be a considerable increase from last month’s figure at down 660 Billion, add the scenario in the US with rates looking to rise in the near future and it looks like the Yen will be resuming its downward trend against the US dollar at some point.
Looking at the daily chart; yesterday’s candle bounced of the support line created by 2 previous peeks and closed above the Ichimoku cloud, a close above the cloud today may signal regained momentum of the trend.

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