Further correction of S&P 500 will support USD/JPY bears
The Japanese yen is not living its own life, still responding to solely foreign factors. The first since April rise in the manufacturing sector of the Chinese economy above level 50 pushed the USD/JPY up to its six-month highs. Donald Trump’s willingness to restore the tariffs on the imports from Brazil and Argentina resulted in the pair’s worst drop in five weeks. Investors ignored the BoJ hints at expanding the Japanese monetary stimulus in October and November, and the statements of Haruhiko Kuroda in late autumn that monetary easing is not necessary. The BoJ…
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