The US Dollar continues to consolidate against the yen, as we are essentially taking a bit of a break at this point. However, the trend remains very much intact and bullish. I am a buyer only at this point.
USD/JPY Forecast – US Dollar Continues to Stretch Against The Yen yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
The USD continues to show signs of volatility against the yen, but more importantly – strength. Although we have seen some central bank actions, at the same time – interest rate differential continues to be important.
The Bank of Japan may have intervened in this pair, but at the end of the day, there is very little they can do to change the trend, only being able to slow it down.
The US dollar has rallied a bit after falling in the early hours of Thursday. This is a market that continues to see a lot of traders taking advantage of getting paid at the end of every day.