Wednesday 3 August 2016

Scotiabank: The yen continues to grow

On Tuesday, the yen rose against all major currencies, despite the long-awaited publication of the plan for fiscal stimulus in the country. This behavior of the Japanese currency comes in response to a statement by the Japanese government yesterday and the decision of the Bank of Japan last Friday, indicating a high probability for further growth of the yen, reported analysts.

According to their short-term technical indicators USD/JPY draws bearish picture. The couple aims to test the zone around 100.45 yen.


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