USD/JPY is trading below the 108.0

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Thread: USD/JPY is trading below the 108.0

  1. #1
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    Default USD/JPY is trading below the 108.0

    USD/JPY is trading below the 108.0
    USD/JPY is trading below the 108.0 handle today, amid continued risk-aversion and the likelihood of Bank of Japan (BOJ) governor Kuroda being reappointed for a second term. There are also reports of a possible “stealth or back door tapering” by the BOJ, in a bid to allow longer-term interest rates in Japan to rise without reducing QE size.

    In the daily timeframe, USD/JPY has broken a long-term resistance trend line from 2012 to trade below 1.08. A close below 1.08 would result in further declines to near-term supports at 107.30 and 106.70. After this, the 105.50 level may become visible. A reversal would find initial resistance at 108.40 and then 109.20.

  2. #2
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    Trading strategy: Short
    Open: 106.00
    Target: 1004.00
    Stop-loss: 107.00
    Recommended size: 2.12 mini lots per $10,000 in your account

    Short analysis: USD/JPY broke below previous 2018's 105.24 and is getting lower. We keep our bearish view with the target at 104.00.

  3. #3
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    Japanese pension funds and insurers-- known for hedging their holdings of foreign assets against the risk of yen strength (which would deplete the value of their assets when converted to yen) have tilted their hedge ratios higher against the risk of their foreign earnings depreciating in yen terms. An increase in their yen hedge ratio further support the currency.

    Other reasons related to prolonged yen strength are relatively higher current account surplus than most nations (except for Germany and Switzerland), unsustainable pace of bond purchases by the Bank of Japan, improved inflation and higher upside for policy tightening than most other nations. One example is EUR/JPY which has a current value of $129.40. You can use the next convert Convert EUR (Euro) to JPY (Japanese yen)
    All is possible

  4. #4
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    in ro ham eslah kon:
    The Yen is in seriusly with the USD. I think the usdjpy pair grown in the las month

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