yogayenga

usd jpy daily shows support 111 resistance 114

FX:USDJPY   U.S. Dollar/Japanese Yen
64 0 2
Yen has strengthened against the dollar... showing support 111 and resistance around 114 on daily
... outperforming all 31 other major currencies this year as Japan’s current-account surplus makes it attractive for investors seeking a haven. Bank of Japan Governor Haruhiko Kuroda’s Jan. 29 decision to adopt negative interest rates has failed to rein in the currency’s advance.

“All existing drivers still point to more yen strength,” said Koon How Heng, senior foreign-exchange strategist at Credit Suisse’s private banking and wealth management unit in Singapore. “The BOJ will need to do more to convince the markets about the effectiveness of its negative interest-rate policy.”

That’s a drawback for the central bank governor. He needs a weaker yen to help meet his target of boosting Japan’s inflation rate to 2 percent and keep exports competitive.
So its a game of Yin and Yen ....market wanting to buy Yen as a safe haven, and BOJ wanting it weaker for exports
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out