Main JPY
JPY
The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most traded currency in the world, behind only the US dollar and the euro. The JPY is widely used as a reserve currency and is relied upon by forex traders as a safe haven currency. Originally implemented in 1871, the JPY has a long history and has survived several world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and full supervision of the JPY by the party
The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most traded currency in the world, behind only the US dollar and the euro. The JPY is widely used as a reserve currency and is relied upon by forex traders as a safe haven currency. Originally implemented in 1871, the JPY has a long history and has survived several world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and full supervision of the JPY by the party
Read this term crosses have had huge weeks up this week. Today, the BOJ kept rates and their yield curve steady. They expect inflation
Inflation
Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country increases over a period of time. This is a rise in the general price level where the currency is effectively buying less than in previous periods. From the point of view of evaluating the strength or currencies and therefore foreign exchange currencies, inflation or its rate has an extraordinary influence. Inflation stems from the overall creation of money. This money is m
Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country increases over a period of time. This is a rise in the general price level where the currency is effectively buying less than in previous periods. From the point of view of evaluating the strength or currencies and therefore foreign exchange currencies, inflation or its rate has an extraordinary influence. Inflation stems from the overall creation of money. This money is m
Read this term move down. Ueda acknowledges the lower JPY, but said there are commodities and downsides to currency movements. USDJPY is 1.74% higher, but it’s the other JPY crosses that are really on fire this week.
- EURJPY: EURJPY rose 3.51% this week and is trading at its highest level since September 2008. This week the price moved above the May 1 swing high at 151.61. Looking at the weekly chart, the price has entered the upper extreme area that limited the pair from November 2006 to October 2008 (with a few modest breaks) between 151.71 and 169.968. Today’s maximum reached 155.01.
EURJPY
- GBPJPY: GBPJPY rose 3.76%, the biggest weekly gain since September 26, 2022, when the price rose 3.896%. Before that, you would have to go back to the week of June 1 when the pair moved 4.26%. Looking at the weekly chart, the price is trading at a penny high in December 2015. Going back to October 2014, the price for the pair was trading between 174.88 and 195.88. This week, the price moved above the low of this swing area and entered the extreme area that contained the pair until January 4, 2016 (see red shaded box). Staying in the shaded field is more bullish.
GBPJPY
- AUDJPY: AUDJPY rose 3.7%, the biggest gain since March 2022 when the pair moved 3.86%. Unlike EURJPY and GBPJPY, AUDJPY is only trading at the highest level since September 2022. The high price then reached 98.599. The highest price today reached 97.39. The next target is the high in September 2022 at 98.599. Get above that and the highs of 2014 at 102.844 and 2013 at 105.043 would be the next major targets on the weekly chart.
AUDJPY