The buyers of the Japanese Yen seem to feel confident now despite the fact that the USDJPY exchange rate is nearing the levels close to which the Bank of Japan started a series of currency interventions. The BOJ is more conservative than the Federal Reserve and the ECB. Together with expectations of QE3, this factor favors those who are now betting on the Japanese currency.
There are concerns that the forthcoming USD GDP report will disappoint investors, which allows Citigroup to assume that USDJPY will continue going down to 76.00.
Nevertheless, Mr. Azumi, Japanese Finance Minister, is currently concerned about EURJPY reaching the 11-year low. He says that currency interventions have been successful so far. He seems to be determined to do his best to resist volatile swings in the currency market caused by speculation.
At the same time, Citigroup doesn’t expect the BOJ to start a new series of currency interventions in the near future. They say verbal measures will be enough.
According to Masterforex-V Academy, the Japanese yen has suspended its strengthening against the US Dollar. USDJPY seems to be finishing wave А(С)/С or 3 inside a bigger-scale downswing, represented by А(С) or shortened С of wave level Weekly.
A break below 77.93 will initiate wave 5 or А inside the “Hound of the Baskerville” pattern by Elder/MF. The 77.65 low will act as support. Alternatively, a break and consolidation above the 78.45 high will start a new bullish move. If this is the case, the price may encounter resistance at 78.71 and 78.95.
These days, traders are offered a sea of moneymaking opportunities when it comes to trading Forex and other financial markets. Broking companies keep evolving along with the markets, thereby offering more and more competitive trading conditions along with innovative products and services to let their clients improve the quality of their trading.
At the same time, more broking companies become oriented towards beginners. They understand that it is beginning traders who will make the future of Forex and other financial markets. They are willing to help them to grow into winning professionals since they hope for long-term cooperation with them.
That is why brokers open cent accounts and introduce various bonuses and promotions to help beginners make their first steps in a rough trading environment.
FIBO Group is one of such client-oriented broking companies.
What a makes a winning trader? The ability to understand the market the way it is and to exploit this understanding in order to get a competitive edge over other market participants.
Today’s financial markets are getting more and more competitive while traders become more sophisticated and cunning. Therefore, those traders who want to get a decent competitive edge over other market participants just cannot do without innovative solutions and technologies.
The world of Forex is getting more competitive and sophisticated. Broking companies have to offer their clients beneficial trading conditions to stay competitive. Big-scale old broking companies seem to have a slight competitive edge over young ones since they have decent experience and know how to arrange mutually beneficial cooperation.
HY Markets is one of such companies. It has been in the industry for over 3 decades! Even though this is an institutional broker, not so long ago it introduced beneficial conditions for beginning traders in order to get them up and running.
The new budget seems to have caused a major decline in the Australian consumer sentiment despite the RBA’s decision to cut the interest rate down to the record low level. The corresponding index calculated by Westpack confirms that.
Yesterday, on May 22nd, Ben Bernanke held a speech in the US Congress. This time, the Congress considered the possibility of curtailing the existing QE program prematurely because the programs seemed to have given positive results.
These days, anyone can make money trading Forex and other financial markets. The opportunities are almost endless. Still most traders still lose in the long run. While some lack experience and skills, others fall prey to emotions or fail to stick to sound money management. There are many reasons for losses. Few people actually make money in the long run because they treat trading seriously like a full-time job and work hard to achieve their goals. They use technical and fundamental analyses and strictly observe money management rules. They use various tricks and techniques to put the odds in their favor.
Apparently, beginners have difficulty trading financial markets without knowledge, skills and experience. Becoming a professional trader requires diligence, patience and time.
However, today’s Forex industry offers riskless moneymaking opportunities, which require no trading skills. You can make money without trading Forex. One of such opportunities is offered by FBS, a major Forex broker. The broker claims to offer “The most profitable and efficient IB Program on Forex”…
Yesterday, on May 21st, was a notable day for the eurozone. The Euro Parliament approved the Euro Group’s idea to use major deposits over €100 000 in emergency situations to save a risky bank. Deposits under €100 000 are ensured by the compensation scheme.