USD/JPY Charts Another Higher Trough In Its Series Of Peaks And Trough

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the USDJPY. We note that a new higher trough (HT*) has charted in the series of higher troughs followed by higher peaks. As such, the USDJPY uptrend continues. Overnight the BOJ kept is policy rate at -0.10%, with Governor Kuroda saying that negative rates facilitate a desirable yield curve. The BOJ also downgraded its economic outlook on exports and production, maintaining that this was due to the global slowdown. The inflation target has been kept at 2%.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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