The USD/JPY pair got stabilized on Friday after growing earlier this week; consolidation is ahead.
On Friday morning, the Japanese Yen stopped falling against the USD and got stabilized. The current quote for the instrument is 111.33.
Influenced by investors’ being optimistic, the Yen plummeted to the lows it reached on November 28th 2017. Investors aren’t interested in “safe haven” assets or risks hedging schemes right now – everyone wants to buy and earn money as long as the current market situation allows.
Today’s statistics from Japan indicated that the Bank Lending in the country added 2.5% y/y, which is worse than expected. However, investors were focused on the other indicator, the Current Account, which was also worse than expected, only ¥1.347T.
The components of the report showed that in November the Export expanded by 13.9% y/y and the Import added 17.6% y/y.
In fact, all of this means that on its way to a stable economic growth, Japan still faces some difficulties from time to time. However, the BoJ’s confidence in the necessity to continue the QE program will solve these problems sooner or later.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.