USD/JPY - Yen is one of the most traded currencies in the world, especially due to its low interest rate since the Yen is used in carry trades. Recently the Bank of Japan has expanded their purchase of Yen, hoping to overturn the deflation tide to inflation. Doubling this money supply is devaluing the Yen, boosting exports; but, increasing prices of imports at the same time, especially for commodities.
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Weekly US Dollar and Japanese yen Trading Forecast
|Dollar Goes for a Nine-Month Rally with Fed Talk and NFPs on Tap||bullish|
|USD/JPY Holds 118.20 Support Ahead of Fed Rhetoric, NFP Report||neutral|
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|USD/JPY||bullish||weekly||DARK CLOUD COVER||bearish||View Chart|
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USD/JPY Support & ResistanceW - Weak | M - Moderate | S - Strong
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