USDJPY - Almost at ATH :)
Not sure why there is such Japanese weakness over the last two months, it seems the war has impacted them very much. Could it be because of the proximity to China and the world being split in half and Japan is on the wrong side? Also, there is the matter of the Kuril Islands and the Taiwan situation that will surely start being "sorted soon". China has started lockdowns lately also. Japan has been part of the sanctions on Russia, but the trade between the two is not as big or important as it is between Russia and the EU, or Japan and China.
No matter what the Yen lost 1,500 pips since the actions in Ukraine started.
It chart just seems to be shooting up and up though.
The only conclusion between the USDJPY pair that we can come to, is that it's seriously overbought.
Possibly a sell to try and catch 200-300 pip correction. Even though we don't really like to trade against the market.
Not sure why there is such Japanese weakness over the last two months, it seems the war has impacted them very much. Could it be because of the proximity to China and the world being split in half and Japan is on the wrong side? Also, there is the matter of the Kuril Islands and the Taiwan situation that will surely start being "sorted soon". China has started lockdowns lately also. Japan has been part of the sanctions on Russia, but the trade between the two is not as big or important as it is between Russia and the EU, or Japan and China.
No matter what the Yen lost 1,500 pips since the actions in Ukraine started.
It chart just seems to be shooting up and up though.
The only conclusion between the USDJPY pair that we can come to, is that it's seriously overbought.
Possibly a sell to try and catch 200-300 pip correction. Even though we don't really like to trade against the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.