Conflicting reports?

Beginner Questions
1

Hi All,

Maybe it’s because I’m still so new to Forex but I have to say I find myself very puzzled with a article on a site I’ve been using as a resource.

DailyFx (Dec12th) article stated “Japanese Yen Soars to 13-Year High Against the US Dollar” and “The Japanese yen held its own on Friday as lingering risk aversion sent the currency to 13 year highs against the US dollar overnight, as Japan announced an emergency economic package.”
(Japanese Yen Rises to Highest Since 1995 Against US Dollar, More Volatility Ahead (Euro Open))

My first thought was to check the charts myself so I could see what the article is stated and learn from it. Of course I find the USD/JPY is actually at a 13yr Low, not high. Confused, I check the commentary board on the site I do my trading with and they of course say “USD/JPY hit a 13 year low in Asian session trade today touching 88.15” … What am I missing here? Why does DailyFx say it’s a 13yr High?

I’m concerned that after all my studying Forex I’m just not getting the logic in their article. I shudder to think they just got it wrong. What am I missing here?:confused:

Wickie

2

They are both stating the same thing. The variance is the perspective on which currency you want to make reference too.

3

Thanks Gunner,

I suspected that was the case. I just had trouble wrapping my head around it. :o
I’ll go back and reread the articles. I feel the need to understand it from both sides of the currency.