Today, the market is
unpredictable for all the JPY pairs. It is because of the consecutive economic
releases for major currencies.
AUD, the currency of opening market has its
economic releases in the beginning of market. At once, the trend has been
showing its volatility.
As JPY is the significant currency in forex, the
economic releases are in favor to this currency which will be showing some
remarkable movement in the trading. It has made some notable gain against all
of its pairs for the past three days.
Usually, JPY pairs are the trader’s
choice by its frequent volatility. This makes the trend to move in its way.
Conversely, the trader’s unconfident attitude over the successive releases has
made an unstable trend.
For EUR/JPY, USD/JPY, GBP/JPY, AUD/JPY and NZD/JPY, the
JPY has gained a lot by reaching its good support for the last week.
Ultimately, the currencies which are paired with JPY will be moving towards to
reach its resistance.
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