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 Ready to Reverse Should FOMC, GDP Give its Consent||bearish|
|Japanese Yen to Look Past BOJ Decision, Focus on Greece and FOMC||neutral|
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|USD/JPY||bullish||weekly||EVENING STAR||bearish||View Chart|
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USD/JPY Support & ResistanceW - Weak | M - Moderate | S - Strong
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