Currency pair USD / JPY is swinging back to the bullish trend
Following the largest correction of the currency pair USD / JPY turns back to the original trend. After falling 400 pips over the course of eight hours got a pair back to 97.60, which is also the S / R levels.
The strengthening of the Japanese yen is due to poorer results of China and especially good results manufacturing Japan. It was unexpectedly better than analysts and experts predicted.
The main event of the United States is now the situation in Boston. As the sign on the further development of the dollar after the opening of the trade can not be accurately predicted. It is possible that the current turnover is only corrections on re-appreciation of the yen, which had exhausted its possibilities and the BOJ will have to play hardball to get the market again realized that the Monetary release seriously.But due to good macroeconomic data, we can see that it helped the Japanese yen and the economic situation is improving.
Today will be rich in macroeconomic data from the United Kingdom. Libra basically copies on a pair of Japanese yen against the U.S. dollar, only a few GBP / JPY much more volatile and fluctuations are an order of magnitude larger than the pair USD / JPY. Which for some traders in the currency market more attractive.
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