Forex: Risk Confirmation Critical to Yen Crosses’ Tentative Turn
USDJPY posted its biggest daily decline in over four months Tuesday - a significant move for a pair that has surged over 1000 pips in that same period. All the yen crosses followed suit, lending serious weight to to the potential for a reversal amongst the most overbought pairs in the FX market. However, there is a missing ingredient to sustaining and building this changing tide: risk trends. In today's video, we discuss the tentative technical correction, the underlying fundamental requirements and which yen crosses are more appealing.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.