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USD/JPY arrives at key support; potential for short-term bounce

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The sell-off in stocks and oil markets has seen the safe haven US dollar rise against most major currencies, except the Japanese yen. The reason for this is because the yen is currently deemed more of a safe haven currency than the dollar. But as we have mentioned consistently this week, sentiment could turn very quickly and if the stock markets stabilise going into the second half of the week then the USD/JPY may finally start to rise. Today’s economic data have been mostly positive, although

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