FXEMPIRE
All

Short Term Weakness for the Yen Possible?

The Yen continues to hover near important support as it gets stronger.
Yaron Mazor
JPY

However, we expect the short term to be complicated by the Japanese currency and some weakness to develop.

Yen Testing Important Mid-Term Support Levels

The Yen is trading near the 106.10 level this morning. The Japanese currency has battled its way to stronger values versus the U.S Dollar. A glance at a mid-term chart shows what looks like a comfortable trading range for the Yen.

USD/JPY 4H Chart

But do not be fooled. The Japanese currency is testing important support levels as the U.S Dollar has been sold against the Yen. Some investors seem to be wagering the Bank of Japan will become more hawkish. However, there have been few signs of that occurring anytime soon.


Suggested Articles


Complicated Trading Ahead for Yen

Support for the Yen strength appears to be around 105.30, while resistance could be interpreted at 107.00 juncture. A look at a long-term chart of the Yen shows it has not been this strong since the summer and fall of 2016.

USD/JPY Weekly Chart

The Yen may continue to attract investors who sell the U.S Dollar versus the Japanese currency with a long-term view. However, we expect the near term to be more complicated, and would not be surprised to see some Yen weakness develop.

In the short term, we believe the Yen may be negative. The mid-term and Long term we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
IMPORTANT DISCLAIMERS
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
RISK DISCLAIMER
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
FOLLOW US