Is this the end?
Skerdian Meta•Friday, April 8, 2016•1 min read
The decline in USD/JPY has been quite relentless recently and it has picked up pace in the last few days. The price reached a two-year low yesterday afternoon at 1.0767. The traders were getting confused because fundamentally there´s no reason whatsoever for this decline and technical analysis doesn't support it either. The BOJ are clearly watching but no intervention yet. It has moved up 150 pips from the lows since yesterday afternoon but that doesn´t confirm that a bottom is in place yet. We´ll have to wait and see how it will unfold.Â
The bulls have put a fight in the last few sessions but is it enough to start a reversal?Â
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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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