JohnKicklighter

USDJPY Needs Some BoJ Lift or It's Going to Fall to Earth

FX:USDJPY   U.S. Dollar/Japanese Yen
269 5 8
Here's a weekly chart of USDJPY             . In the past three years incredible rally, there have been two very clear catalysts for this and the other Yen crosses to move significantly higher. Both are the BoJ's doing. Anticipation of their initial stimulus launch (QQE) was trumpeted to get the exchange rate and consumers mobilized. Currently, there is an even chance of a further upgrade amongst economists, but that doesn't seem to be producing the same lift it has in the past. Given the state of risk trends, if they don't deliver; this Yen crosses are going to retrace.
Agreed. Here is my idea
SUPPORT TURNED RESISTANCE (RE-TEST)
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Josphat89 Josphat89
A strong Yen is not good for Japans economy.
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shaoquan92 Josphat89
But your chart above says its going down, making it a strong yen?
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Josphat89 shaoquan92
True..If it goes down Yen strengthens against the dollar. Thats not goof for Japans economy coz' Japan is majorly an export country. Thus a stronger yen would be bad for trade. It would make it expensive for countries to buy goods from Japan e.g Toyota cars
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so usd will grow stronger in time to come? But if feds dont lift U.S interest rate by the end of the year, where do u see this pair of currency going?
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