JPY Daily News

Is the JPY's Bullish Run Over?

The JPY began losing its momentum this morning after a long week of steady gains. Opening at 101.41 and then steadily losing ground to the USD, the JPY is now trading closer to 102.00. Some analysts claim that this is because of the uncertainty affecting the entire market, not just Japan's. Investors are waiting for the proverbial "sign from above" to see which way the market will go before picking a direction. Traders could see this indecisive fluctuation continuing throughout the day.


Bank of Japan Governor Masaaki Shirakawa stated early this morning that the BoJ needed to keep an eye on the global economy and watch for the potential fallout that could come from this recent crisis. Japan's currency usually does well during times of economic downturn, but when investor confidence is restored, the market may see a sell attitude develop as traders return to their carry trades; selling JPY in exchange for higher yielding currencies.

Current Time: 05/27 01:29 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
10/20
	01:30	JPY	BoJ Governor Shirakawa Speaks		*	*	*