Confusion on Outlook for Yen Pairs.

Mischely GomezUncategorizedLeave a Comment

Experts are saying the Outlook for the Yen remains bullish which translates to bearish for the USD JPY and EUR JPY. But on the charts, I read that Yen pairs made a long term turn to the upside visible on the Daily time frame and that the current movement down should prove to be a correction to the recent move up. Therefore the USD JPY and EUR JPY should soon form an end of the correction and make an even bigger move up soon. But with that last move being caused by some bank claiming that the Yen may be losing its status as a safe haven currency it is unclear whether an extremely impulsive move can be formed on false sentiment. I believe that charts always are more accurate than fundamental interpretation so still expect the Yen pairs to form another rocket going up. But if they don’t, it will not affect our trading.

Read more here

https://www.dailyfx.com/forex/fundamental/article/special_report/2020/02/26/Yen-Outlook-Bullish-USDJPY-May-Fall-as-SP-500-Sees-Dip-Buying.html