USD / JPY
This week, the Japanese yen has been held in the range of 106.00-107.00. While yesterday, an attempt was made to penetrate the lower boundary of the range, but the growth of the stock market broke the attempts of bearish players. The US stock index S & P500 increased by 1.26%, and Nasdaq by 1.04%. Even the shares of Amazon rose yesterday by 1.46% after the recent fall under the pressure of US President Donald Trump (in the charge of non-payment of taxes and monopolization of the market). The yen has increased by 70 points.
In general, optimism returned to the stock exchanges. Shares of Tesla jumped to 5.8% despite all the drawbacks with the electric vehicle Model 3, the company manages to continue to produce positive economic forecasts. Also, the banking sector is growing on the bond market. The yield of US bonds is growing over the spectrum of the second day. Markets can no longer ignore the Fed's basic rate of 1.75%.On Friday, the United States is expected to reduce unemployment from 4.1% to 4.0%, which will create a new wave of optimism for the stock markets and the growth of the Japanese currency.
We are expecting for the yen in the range of 108.00 / 50.
* The presented market analysis is informative and does not constitute a guide to the transaction.
