USD/JPY – Declines Are Gaining Steam

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 8, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
    Likes Received:
    Earlier today, the yen moved sharply higher against the greenback on safe-haven buying and Bank of Japan Governor Haruhiko Kuroda comments (Kuroda said that easy monetary policies work and Japan is not headed for a recession). As a result, USD/JPY dropped under 109. How low could the pair go in the coming days? In our opinion, the following forex trading positions are justified – summary: EUR/USD: short (stop-loss order at 1.1512; initial downside target at 1.0572) GBP/USD: none USD/JPY: none

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