Yen weakness likely to continue


Overnight weakness in the Japanese Yen (JPY) looks set to continue as Investors seek value. It won’t be a simple straight-line trend, but there appears to value in buying dips in Yen pairs. We are currently near the highs in the simple channels in Dollar/Yen (USDJPY) as well as a number of Yen crosses. In the absence of any extraordinary event we don’t believe the market has built sufficient momentum to advance these pairs this side of the weekend, and will be looking at building a position on any visits to the lower end of the rising channels over the next week. USDJPY has deep liquidity and is probably the most orderly market in which to trade Forex, as it rarely shares some of the more hysterical price oscillation that other Majors can fall victim to. This is one reason why it has superiority over some of the more lively pairs for the novice trader.

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