Thoughts on Japanese Yen

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
The Japanese Yen dropped during Asian trade and is now approaching 102 on the USDJPY. Given the pick-up in inflation as visible in consumer prices which rose by the biggest amount since 2008 and statements by Bank of Japan Governor Kuroda who claimed that the economy will grow above potential I think we will see a rally in the Japanese Yen.

Please do not take this as trading advice, but rather my own thoughts here which I shared. I have been shorting the USDJPY since it reached 101 and think that we are near the end of the decline.