Japan wants Yen to go lower against the U.S. Dollar
The Japanese government wants the Yen to go lower against the U.S Dollar, as well as every other country wanting a weaker currency including the United States to help spur exports and try to revive their economy.
That is exactly what is happening today once again, with the Yen down another 165 points. It now has dropped 1500 points in 3 months, with equals around 18,000 profit or loss…depending on what side of the trade you are on – currently trading at 11116 hitting a fresh 2 ½ year low.
I remain very bearish while it is trading below its 20 and 100 day moving average. It continues to be one of the best down trends in recent months. In my opinion, I believe we are headed down to the 105 level in the next couple of months due to the fact that the Japanese government is forcing the Yen lower against the U.S dollar…hitting a fresh 2 1/2 year low once again today. I am still advising traders to be short the Japanese Yen.
Remember when you trade commodities you will be wrong sometimes. So you must put a stop loss and not marry your position because never getting out causes exaggerated monetary losses. Always risk between 1-2% of your account balance on any given trade trying to minimize risk.
Lookboard - TREND: LOWER
CHART STRUCTURE: EXCELLENT
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