The Yen Grinds Higher on BOJ Day

Posted Thursday, December 21, 2017 by
Rowan Crosby • 1 min read

The USD/JPY has been a solid performer over the last few sessions, continuing to push higher, which is in sharp contrast to the DXY which has been falling.

Given that there is a fair bit of strength here in the fact of USD weakness, tells me that we might have a nice trae to the upside, when the USD  turns around. Often that can be the case as it’s a sign of underlying strength. Or perhaps in this case JPY weakness.

We have the BOJ out today and there is likely to be no real changes ahead. Which is fine as we don’t usually get too much action from them.

What is of more interest is how the USD reacts in the next month or so. While the tax reform has found its way through, volumes are still light. We might even have to wait until the new year to get some more traction.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments