We have seen fresh year highs on USDJPY at the start of the European session as the 115.59 level is broken, with 116.00 not far away. The pattern on the yen for the past several years has been range trading for months, followed by more pronounced moves and the underlying dynamics appear to be supporting such a pattern of trading at this point in time. The market continues to bask in the Bank of Japan’s announcement of two weeks ago, together with the pledge from the main pension fund to buy more domestic and overseas equities. But the positive impact on the economy of a weaken currency are having a harder time asserting themselves. The Aussie has also weakened against a US dollar looking a little more assured towards the end of the Asia trade, with AUDUSD just above the 0.8600 level. If we look at the data calendar for today, then it suggests we are in for something of a quiet session with no major releases scheduled, but price action on the yen suggest that the market is still keen to push further on some underlying trends. It’s notable that sterling is holding steady, with players reluctant to push lower ahead of the Bank of England Inflation Report tomorrow. Finally, keep an eye on EURCHF, which has continued to nudge lower towards the SNB’s 1.20 floor. At some point, something will have to give. It’s unlikely to be the SNB’s resolve that gives first, so we can expect the SNB to up the rhetoric and buying of reserves before long. Further reading: EUR/USD Nov. 11 – Back down to 1.24 as USD ends correction AUD/USD slips below 0.86 on gloomy iron forecasts, despite good data 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 EUR/USD: 5-Wave Squeeze; Cable: Ending Wedge – Goldman Sachs Yohay Elam 7 years We have seen fresh year highs on USDJPY at the start of the European session as the 115.59 level is broken, with 116.00 not far away. The pattern on the yen for the past several years has been range trading for months, followed by more pronounced moves and the underlying dynamics appear to be supporting such a pattern of trading at this point in time. The market continues to bask in the Bank of Japan's announcement of two weeks ago, together with the pledge from the main pension fund to buy more domestic and overseas equities. But the positive impact… Top 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.