Yesterday and on Friday the forex market looked like it was on sleeping pills. Maybe it was the end of the week or maybe it was the 4th of July, but the range was tight in most forex majors and the direction was unclear. Personally, l think that the forex traders were catching their breath and regrouping after the Brexit moves.

Today we´re back in action again with the Japanese Yen being in the forefront. USD/JPY has declined nearly 100 pips overnight and it is heading towards 100, so we´ll soon see the if Bank of Japan will take action or if they have some balls of steel. It´s hard to see your currency appreciate more than 25% in just a few months after all the hard work you´ve put in 5-6 years to weaken it.