The yen has been quietly appreciating over the past week and overnight has touched key levels on USDJPY and elsewhere. Dollar yen is sitting just above the 200 day moving average at 101.23, with support also noted at previous lows at 101.24/21. It’s noticeable that Japanese stocks have underperformed other major indices over the past two weeks, with this normally being associated with a firmer yen. It’s also notable that EURJPY has broken decisively below the 140 level for the first time since early February. This has also been helped by the underlying expectation that we are likely to see some action from the ECB at next month’s policy meeting. This is unlikely to put severe downward pressure on the euro, but will give it a negative under-current in the run-up to the meeting on the 5th of June. For today, there are no major data releases for the FX markets to get their teeth into. There are various ECB speaks scheduled for this week, which could keep the single currency sensitive to changing sentiment regarding both the euro and the policy outlook. The minutes to the May BoE MPC meeting will also be released and will be of interest for signs of greater dissent amongst the committee. Note that the Bank of England governor made more pointed warnings regarding the risks from the housing market over the weekend. Whilst this did not impact sterling, it was a further sign that there are risks with continuing with low rates, but it falls to others (government, financial policy committee) to more directly deal with them. Further reading: GBP/USD: Trading the British CPI FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next Chinese Deceleration Triggers Reversal Karl Schamotta 8 years The yen has been quietly appreciating over the past week and overnight has touched key levels on USDJPY and elsewhere. Dollar yen is sitting just above the 200 day moving average at 101.23, with support also noted at previous lows at 101.24/21. It's noticeable that Japanese stocks have underperformed other major indices over the past two weeks, with this normally being associated with a firmer yen. It's also notable that EURJPY has broken decisively below the 140 level for the first time since early February. This has also been helped by the underlying expectation that we are likely to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
