Robert Rennie, Research Analyst at Westpac, suggests that they remain torn between positive US$ fundamentals on the one hand and the potential for all out trade war/ increased EM volatility on the other, but they have noted for many weeks that even in the midst of a significant deterioration in China/ US/ EU trade relations, USD/JPY could not break below 109.50. Key Quotes “Wednesday’s price action was even more bizarre with USD/JPY breaking above 111.50. Thus the path of least resistance appears to be higher for now, though we remain concerned that next week’s ‘section 232’ auto hearings could shift ¥ sentiment.” “Thus, we stick with a ‘trade wars warrants caution’ near term view but more positive bias medium term.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next QE drove JPY from 2012 to 2016 – AmpGFX FX Street 5 years Robert Rennie, Research Analyst at Westpac, suggests that they remain torn between positive US$ fundamentals on the one hand and the potential for all out trade war/ increased EM volatility on the other, but they have noted for many weeks that even in the midst of a significant deterioration in China/ US/ EU trade relations, USD/JPY could not break below 109.50. Key Quotes "Wednesday's price action was even more bizarre with USD/JPY breaking above 111.50. Thus the path of least resistance appears to be higher for now, though we remain concerned… 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.
