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JPY news from all over the world Japan Yen news and articles from around the globe. Get the latest news and information about the Japanese Yen and its role in the global economy. Learn about the Japanese Yen's history, current exchange rates, and its importance in the world financial markets. Find out how the Japanese Yen is impacting the world economy and how it affects businesses, investors, and governments. Read analysis and reports from experts on the Japanese Yen and its various impacts.
JPY Plunging FurtherYen traders are on high alert today as USDJPY continues to breakout to fresh multi-decade highs. The pair has today broken above the prior YTD highs around 155. Japanese authorities have warned recently that they are monitoring markets
The absence of currency interventions from the Bank of Japan and strong macroeconomic data from the United States are pushing the USD/JPY pair to new levels, above which the price has not risen since 1990. However, in the coming trading sessions the situation may change dramatically:
On the H4 chart, USD/JPY found support at 153.65, and the fifth wave of growth is unfolding. The pair is expected to reach 155.85 soon. Following this, a corrective move to at least 154.60 (testing from above) is anticipated, potentially followed by further growth towards 156.56. This target represents the primary objective of the growth wave. This bullish scenario is technically supported by the MACD oscillator, whose signal line is above zero and trending upwards.
The Japanese yen moved beyond USD/JPY 155 for the first time since 1990 yesterday with the pair currently changing hands at 155.66 in the run-up to tomorrow’s BoJ policy meeting (including new growth and inflation forecasts). We don’t think that any “hawkish” hints on “more” policy normalization down the road will be sufficient to save the ailing currency. It will likely take another hit which could prompt officials to move from verbal to effective interventions. As seen in the (recent) past, such moves often offer only temporary relief without backing from the BoJ.
By Ankur Banerjee and Alun JohnLONDON/SINGAPORE (Reuters) -World stocks rose on Wednesday led by tech names as attention shifts to earnings from U.S. megacaps this week, while the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.An after-hours surge in shares of electric vehicle maker Tesla (NASDAQ:), following its promise of