Near-term uptrend for the Japanese yen

The recent upswing in the Japanese yen can be attributed to recent stress in world markets. It is a safe haven currency for Japanese investors as money is repatriated from foreign markets. The yen could easily test resistance near 96.

Candlestick chart for the Japanese yen for a three year period.  Notice the upswing over the past three weeks.  There is a high probability it will test resistance at 96.


Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.

© 2019

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.