JPY Daily Review for March 13, 2018
|EUR/JPY was previously in a consistent bullish trend that even held-up through the ECB’s extension of QE last October. But that support has already started|
|Domestic issues in Japan and the UK are proving to be the major influences in FX markets at the start of the week.|
|EUR/JPY put in a breakdown of the prior bullish trend in February, and that move showed initial signs of continuation as we opened into March.|
|– A potential scandal surrounding Japanese Finance Minister Taro Aso has traders rethinking Abenomics’ ‘weak JPY’ point of view. ‘ Signs that a transition de…|
|The political legitimacy of PM Shinzo Abe may trigger risk aversion and a stronger JPY while institutions look to potential of 100 JPY per USD|
Have a nice trading!