This morning we posted a market update about how USD/JPY had surged nearly 150 pips during early European session on the back of BOJ comments. It seems like now we´re seeing the second round of JPY selling. There were comments from the BOJ that they could lend money to the second level banks with negative rates. That´s pretty much like giving money away. Now that the US session has started the US traders want some of the JPY action too so they have pushed USD/JPY another 100 pips higher.
The second leg of the USD/JPY uptrend is taking place right now
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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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