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.