Not the best day for yen. But one of the best days for those, trading USD/JPY on a regular basis. Today, JPY fell to the lowest level in 7 months, which means that the chart broke through some serious key resistance levels that have been maintained through all this time. But why is this happening? Why is yen all of a sudden so weak and what drives the chart so much higher than all this time before?
Well, as we all know, USD has been experiencing low activity as of late. With impeachment and war conflicts looming around the US economy, it is only natural that USD would experience poor level of interest and surely, this drove USD-led couples lower and lower. And that didn’t really give us the opportunities to earn with them. But, today both of the occasions for the growth came together – there is a national holiday in Japan, meaning that liquidity for JPY is a bit lower than it usually is and USD is really starting to recover from the lows, experienced by the American currencies.
These two factors put together with the lack of safe havens need are behind the sudden surge of the couple.
Is it time for us to take advantage of the growth? If you are still in doubt, go ask our trading signals right now!