Yen: upside in favour on US/Japan tensions - FXStreet
|Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair plummeted to 119.10 this Monday, with the Japanese yen fueled by growing tensions between the US and Japan.
Key Quotes:
"The USD/JPY pair plummeted to 119.10 this Monday, with the Japanese yen fueled by growing tensions between the US and Japan in regards of US and Japan exchange rate policies, as discussed during the weekend G7 meeting. The poor performance of worldwide stocks, also spurred demand for the safe-haven currency, which seems now poised to resume its bearish trend."
"The pair retreated from a major resistance level, the 110.60 price zone tested last Friday, which adds to the bearish case."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.