Forex: USD/JPY and NZD/JPY Gaps Exhaustion Moves?
The yen crosses had already enjoyed an incredible run heading into this week, but Monday's gap may higher leveraged the move to exhaustion. Certainly the Japanese election invites a future of stimulus and forible currency depreciation, but how much of this outlook was priced in? Furthermore, is this a trend that can be sustained through a period that typically sees volume (participation) and volatility (conviction) fade into year end? We discuss the yen fundamental scenarios, risk trends and key setups (including USDJPY, NZDJPY and EURUSD amongst others) in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.