Japanese Yen Outlook: USD/JPY May Fall But Broader Path Remains Bullish
2021-03-03 03:00:00
Daniel Dubrovsky,
Strategist
Japanese Yen, Majors-Based JPY Index, USD/JPY – Analyst Pick
Broader path for Japanese Yen still appears to look grim
Majors-based JPY index may be hinting at further losses
There is scope for a healthy correction in the USD/JPY
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The Japanese Yen may be at risk to further losses, prolonging what has been general declines since the front-end of last year. On the weekly chart below is a majors-based Yen index, which averages its performance against the US Dollar, Australian Dollar, British Pound and Euro. When the index is falling, that means JPY is generally weakening against its major peers and vice versa.