USD/JPY bears bet on the foreign support, bulls count on the high demand of Japanese investors for the U.S. stocks
The US-China trade truce, as well as the progress in the UK-EU negotiations, significantly weakened the Japanese yen. The yen, having competed with the Canadian dollar to be the best G10 performer, is now the third best-performing currency, being behind the British pound as well. The higher global risk appetite and investors’ concerns about BoJ’s extra monetary stimulus have sent the USD/JPY up to the highest levels since early August. However, the target at 109.2-109.35 suggested in early October hasn’t been yet reached.
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