The Japanese Yen seems to be on the roll. It probably was the weakest major currency in the last several year, losing more than 70% against the US Dollar from 2011. But, recently the Yen bulls have stepped up. USD/JPY lost about ten cents during the February market crash and the 111 level turned into resistance. We thought that the 111 level would hold since the waters calmed but the decline resumed again ad here we are at 108. How far will this nonsense go? Will the BOJ finally intervene? We surely hope so.
USD/JPY broke the downtrend resistance line today
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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