Barclays: External Factors Will Press Japanese Yen
18 August 11:56 AM
According to Australia & New Zealand Banking Group, the key market driver for the market of USDJPY is the difference between US and Japanese bond yields. They say improvements in the US economy increase the pressure on the Japanese currency.
According to Masafumi Yamamoto, a currency strategist at Barclays, expects USDJPY to continue rallying up to 85.00 over the next 3 months.
According to Masterforex-V Academy, the Japanese Yen is currently strengthening against the US Dollar. The experts report that USDJPY is forming a big-scale upswing represented by wave В(С) of level Daily.
A further rally will probably encounter resistance around 79.95 and 80.08. The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 78.58 (as shown below).
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.
Most beginning traders are sure that it is possible to trade Forex profitably and easily. They usually assume that perfunctory knowledge is enough to make money in financial markets in general and Forex in particular. Alas, they are wrong. Obviously, it is possible to trade Forex profitable. However, it cannot be done without specific knowledge, skills and experience.
This delusion is the main reason why they lose in the long run. As a result, most of those losing beginners get disappointed at Forex and abandon the idea of becoming a winning trader forever. Some of them even start call it a scam or fraud. Some of them put the blame on brokers while others refer to bad luck.
Essentially, Forex has nothing to do with scams. Apparently, you may come across some dirty broking companies but that has nothing to do with Forex itself. Besides, such scammers can easily be avoided by following a few simple rules. However, this is another story (Masterforex-V Academy told us many times how to choose a reliable broker).