Big week for Yen pairs , even matching #7 USD to the #8 yen is making pips
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I think the problem is that the yen is so weak that it doesn’t matter what the general risk perception is, jpy is just weak. And about time too. How can an aging population with a big deficit and the biggest debt in the world be so strong. Looks like covid and the Russian war changed that sentiment
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Just a small down day, perfectly normal following such a strong week
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Down day for stocks and all yen pairs, but Bitcoin had a nice jump
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A bit deeper of a pullback today, this could offer some attractive secondary entry points
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Stocks were down again, but our yen pairs all had a green day
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After a bit of a pullback, we are back on our uptrend
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No change today as it was a very sleepy day among all currencies
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I will still get more deeper on head and shoulder
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That is one green day, trend remains out of safety and into risk
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These are the type of moves that can make your whole year
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Down day for Yen pairs and a big hit for AUD and NZD. But stocks are still telling us the Risk-on trade is in play
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For those playing at home… Be careful trading the JPY at the moment…
Once the USDJPY is above 145… The BoJ (Bank of Japan) is likely to make louder noises about intervening in the weakness of the Yen… Check out the Weekly TF to see last time the USDJPY was above 145… Late Oct 2022…
Japan is one of the very few countries in the world suffering from deflation… The BoJ is still rolling out Quantitative Easing and has not moved it’s Reserve Bank rate from -0.5% in this latest 18 month cycle…
Something has got to give…
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You have brought up a crucial point that deserves attention. However, considering the current situation, there is no inherent reason why USDJPY cannot appreciate. In fact, historical data shows that the exchange rate has exceeded the rate you mentioned in 2002. In 1971, it reached a level of 357.318. In essence, the forex market is highly unpredictable, and various factors can influence exchange rates. Unless Japan adjusts its current interest rate to a higher level, a wide range of outcomes is possible, one of which is the rate continuing to rise.
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Stocks rebounded , yen pairs mixed but the play remains short the Yen
Top Trade GBPJPY up 7 weeks in a row
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Not much happening today, and tomorrow is a US holiday so I would expect even less movement in our currencies.
Everyone have a happy 4th of July and I will be back on the 5th
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