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Bank of Japan keeps policy unchanged, upgrades FY22 and FY23 inflation outlook to 1.1%

Forex Strategy Video: Which Yen Cross is Best for a Reversal?

Forex Strategy Video: Which Yen Cross is Best for a Reversal?

John Kicklighter, Chief Strategist

Talking Points:

• There are passive factors buoying the yen crosses including quiet risk trends and BoJ QE2 expectations

• Underlying fundamentals (yield, growth, etc) label both risk trends and yen crosses seriously stretched

• For continuation of the bull trend, I prefer NZDJPY and for a dramatic near-term reversal: EURJPY

Find out how speculative retail traders are positioned in the yen crosses along with automated strategiest that have setups for the pairs in DailyFX-Plus!

The yen crosses are some of the most technically and fundamental overextended currency pairs in the market. Yet, markets can remain 'overbought' or grow even more so before eventually crashing down. In today's Forex Strategy video, we discuss the fundamentals guided and the yen crosses. With an eye to the two general scenarios for continuation and reversal, we look for the best positioned pairs for continuation or collapse.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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