25.04 - looking for earning points in USD/JPY instability
- by Anna K.
It has been a long time since Japanese yen has startled us with rapid moves. And it has been even more time since it has gained enough power to really strengthen against the greenback. But today is a very important day for Japanese currency. Central Bank of Japan left interest rates on the same level as well as left 10-year yield untouched. To put it simply monetary policies of Japan were left unchanged and yen didn’t exactly react well as no one can say that yen was gaining power these last few years. Traders in their turn have dropped yen against the greenback pretty swiftly.
The climb of the chart started before the presentation of the report and as soon as traders heard the decision the panic in the market stopped. But it is still anticipated that yen is going to be unpredictable and can be pretty jumpy.
Right now even though the chart is going down, we are still expecting press conference of the BoJ which can lead to rapid changed in yen’s price. Is it quite dangerous to go into USD/JPY trading without trading signals today.