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.
Japanese Yen Steady Despite May Retail Sales Miss
My Picks: Near-term Setups in USD/JPY, USD/CAD & NZD/USD
Expertise: Short-term Technicals
Average Time Frame of Trades: 1-3 Days