FREE RAPID SIGNAL BUY NOW CAD/JPY The Japanese yen reco | Focal Community Group (FXSignals)

FREE RAPID SIGNAL
BUY NOW CAD/JPY

The Japanese yen recovered from hefty losses in 2021 in October / November and pushed the USD/JPY to a more than 1-month low yesterday. The more dovish than expected Fed, the weak longer-term US Treasury yields played an important role. The JPY was also able to recover after the oil price rally paused. High (/rising) oil and gas prices are weighing on the JPY, as the Japanese economy is heavily depending on oil & gas imports, which means that more foreign currency will be bought. The important 10-y Treasury yield recovered 3.5 basis points in US premarket trading, making the USD more attractive as safe haven currency again. We trade the JPY against the CAD, which I see slightly stronger than the USD at the moment, due to the rise in oil prices and the hawkish stance of the Bank of Canada, which surprised at the end of October by announcing an end to their QE program. In Japan, more signs point to an increase in stimulus (including fiscal) rather than tighter monetary policy.

Signal delayed by ~ 20 minutes
(non-delayed signals in VIP group).


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