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JPY Daily News
USD/JPY Continues Bearish Despite Talk of BOJ Intervention
The Japanese yen appears to be devaluing as planned against most of its currency rivals, except the US dollar. The EUR has advanced on the Japanese currency to currently trade at 113.40, while the British pound climbed to 133.36, up from 132.92. Somehow the greenback, on the other hand, has persisted in rising against the island currency. The USD/JPY fell from a recent high of 85.92 to currently trade at 84.18 over the past several days.
Two forces seem to be pulling both the USD and JPY into a bearish trading pattern. The Bank of Japan (BOJ) and Federal Reserve are both attempting to devalue their respective currencies through monetary intervention and quantitative easing, respectively. The push and pull between these two giants appears to be in favor of the dollar falling more than the yen. If tonight's Tankan Manufacturing Index from Japan provides additional positive data for the Japanese economy, the yen may continue to outpace the greenback with a potential target price below 84.00.
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Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 09/28 | ||||||||
| 00:50 | JPY |  Tankan Manufacturing Index | 1 | 7 | 8 |  | ||
| 00:50 | JPY | Tankan Non-Manufacturing Index | -5 | -2 | 2 |  | ||
