How low can USDJPY go?

Saxo Capital Markets Australia

Multi-asset trading platform

Since the beginning of the month the Japanese Yen has only traded downwards against the US dollar. Even with the shock move into negative rates territory by the Bank of Japan has been unable to exercise any lasting effect on weakening the JPY exchange rates. Saxo’s Head of FX Strategy John Hardy argues that this result should prevent the central banks from pondering a round of currency wars driven by a "race to the bottom" for the most negative interest rate. For now, it seems that USDJPY continues to have some negative pressure. Fibonacci retracements show just how low this currency could go. To know more about this trend in the Japanese currency, visit: (VIEW LINK)


Saxo Capital Markets Australia
Contributor
Multi-asset trading platform

Saxo Capital Markets (Australia) Pty Ltd is a wholly owned subsidiary of Saxo Bank A/S, a global online trading platform specialist. We enable investors the ability to trade FX, CFDs, Stocks, Futures & other derivatives from one account....

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.