Japanese Yen Outlook: USD/JPY Trades Within Falling Wedge, Watch for Breakout
2021-07-21 01:00:00
Daniel Dubrovsky,
Strategist
Japanese Yen, Majors-Based JPY Index, USD/JPY, Fed, BoJ, Falling Wedge – Analyst Pick
Japanese Yen aiming higher, but broader downtrend holds
USD/JPY may resume climb on monetary policy divergence
The pair is trending lower, but a bullish Falling Wedge brews
The anti-risk Japanese Yen has been making a comeback against its major peers, likely bolstered by recent volatility in global stock markets. On the whole, however, the currency remains in a dominant downtrend since last year’s peak. On the chart below is a majors-based Yen index, which is fast approaching what may be a descending trendline from March 2020. If it holds, JPY could resume broader declines.
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 Advertisement
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.