USD is likely to be weaker in the future, and the other currencies would be likely to advance. Would it be a good time to short JPY/USD?
Free technical analysis on Hong Kong stock market, world stock markets, foreign exchange market, commodities market, as well as some important notes for being a successful trader.
Thursday, October 29, 2009
Drop in JPY/USD (29-10-2009 JPY)
After the two mid-term examinations, I finally got some time to do some analysis. Below is a brief analysis for JPY. We can see that after touching the upper line of the down-trend, the rate is going down again. Norway has lifted its Benchmark Rate to 1.5%, becoming the first European central bank to raise the rate after the crisis. It is likely that the other European countries would eventually follow. As there is still no obvious signs for US economy to be recovering nor inflation increases, the rate in the US may not follow what the others are doing.
USD is likely to be weaker in the future, and the other currencies would be likely to advance. Would it be a good time to short JPY/USD?
USD is likely to be weaker in the future, and the other currencies would be likely to advance. Would it be a good time to short JPY/USD?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment