The Japanese Yen seems to be one of the weakest currencies in the world. Despite the recent slump in the price of the US Dollar, the JPY is even weaker and the USD/JPY exchange rate seems to be moving higher.
What is more, the pair is trying to move above the upper limit within a huge wedge pattern that has been creating since the beginning of 2017. So if the USD in the broader market strengthens in the near future it could send USD/JPY even towards 118,60.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
77.46% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is more, the pair is trying to move above the upper limit within a huge wedge pattern that has been creating since the beginning of 2017. So if the USD in the broader market strengthens in the near future it could send USD/JPY even towards 118,60.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
77.46% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.