Watching the Japanese Yen closely...
Dear Friends/Fellow Traders,
I hope you all had a good weekend! The weather here in Vancouver has started to turn for the worse, and I'm more inclined to stay indoors now and watch the currency markets rather than go outside and get soaked. There's limitless opportunities every day, and as I become more and more experienced I will be able to spot more and more of those opportunities which can turn into profits!
Aside from the weather, I will be discussing why we should all be keeping close watch on the Japanese Yen in the upcoming weeks. As I have said before, the Japanese Yen is extremely undervalued when you take into account the robust growth of the economy and its ability to hold its ground in the past month against most of the other currencies despite the political uncertainties surrounding the North Korean Nuclear Test issue and the newly-elected Prime Minister Shinzo Abe.
The buying of Japanese Yen by the Russian Central Bank for its forex reserves today has garnered some attention by market participants today, as JPY strength early in the trading day pushed the JPY crosses lower.
The current Prime Minister of Japan Shinzo Abe is also continously making efforts to improved the strained relationship between China and Japan. He believes that political stability between the two countries will lead to positive long-term growth for both.
All of the points that I have stated above carries positive implications for the Japanese Yen, and further reinforces my point that the Japanese Yen is currently undervalued and may be due for a rally in the upcoming weeks, if not the upcoming months.
Keep your eyes peeled for all upcoming Japanese Economic Data in order to see a clear picture of the strength of the Japanese Economy. Further positive economic news may fuel a strong rally in the yen.
Good luck in your trading, and stay tuned!
To successful trading,
Dickens
I hope you all had a good weekend! The weather here in Vancouver has started to turn for the worse, and I'm more inclined to stay indoors now and watch the currency markets rather than go outside and get soaked. There's limitless opportunities every day, and as I become more and more experienced I will be able to spot more and more of those opportunities which can turn into profits!
Aside from the weather, I will be discussing why we should all be keeping close watch on the Japanese Yen in the upcoming weeks. As I have said before, the Japanese Yen is extremely undervalued when you take into account the robust growth of the economy and its ability to hold its ground in the past month against most of the other currencies despite the political uncertainties surrounding the North Korean Nuclear Test issue and the newly-elected Prime Minister Shinzo Abe.
The buying of Japanese Yen by the Russian Central Bank for its forex reserves today has garnered some attention by market participants today, as JPY strength early in the trading day pushed the JPY crosses lower.
The current Prime Minister of Japan Shinzo Abe is also continously making efforts to improved the strained relationship between China and Japan. He believes that political stability between the two countries will lead to positive long-term growth for both.
All of the points that I have stated above carries positive implications for the Japanese Yen, and further reinforces my point that the Japanese Yen is currently undervalued and may be due for a rally in the upcoming weeks, if not the upcoming months.
Keep your eyes peeled for all upcoming Japanese Economic Data in order to see a clear picture of the strength of the Japanese Economy. Further positive economic news may fuel a strong rally in the yen.
Good luck in your trading, and stay tuned!
To successful trading,
Dickens
posted by ForexDragon at 12:25 AM
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