6.06 - USD/JPY is extremely unstable today
- by Anna K.
Japanese yen is not the currency that we think of when we talk about volatility. And right now the thought crawls in – maybe we should as today USD/JPY demonstrates a level of volatility that we haven’t seen in a long time in its performance. Moreover, all of the recoveries that come after the falls are only another part of overall downtrend. So, what is happening? Well. It seems that the speech that the head of the Central Bank of Japan is due to give in a couple of hours is stirring up the situation. No one knows what he is going to say and whether he is going to make a statement and alter the interest rate of the country.
Overall there are no expectations concerning USD/JPY at the moment. Chart going lower and lower might just be the sign of dollar’s instability and weaknesses. After all the greenback is not exactly having the best week with all of the Trump protesters in London combined with all of the backlash that American president is facing because of imposing trade tariffs on Mexico.
All and all what will happen to USD/JPY is out of our control as right now the couple is entering major leagues – politicians are to meddle and correct the situation. All we can do is use our trading signals for trading the couple and stay positive.