The Yen is ready to get stronger again. Overview for 26.02.2018
USDJPY started the last Monday of February with a new decline; investors are valuing the USD behavior very carefully.
On Monday morning, the Japanese Yen is strengthening against the USD. The current quote for the instrument is 106.65.
There are no macroeconomic statistics on the market today, neither important, nor minor. So, investors have to take into account the news published last week, which wasn’t in favor of the USD. Hence, the Yen has another chance to get stronger.
This morning, Haruhiko Kuroda, the Governor of the BoJ who had been assigned for the position for the second term, said that the Japanese regulator was going to be pretty persistent in continuing the QE program. Actually, this is exactly what the Japanese government wants Kuroda to do: keeping the present policy relating to the QE program and pushing the inflation towards 2%.
According to Kuroda’s estimations, the inflation slowdown is not the best news for Japan, but the country’s economy is steadily improving and requiring some ongoing support. With the help of the QE program, Japan will reach the inflation target sooner or later.
There will be a lot of statistical reports from Japan this week, including the Household Spending, which may be very important for the Yen.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.