Forex news, JPYUSD. Higher JPYUSD has non-Japanese origin. The Bank of Japan purchasing assets program extension by ¥10 trn. has already influenced the price, and investors’ attention has been focused on US negative statistical data.
According to the Analytics Team of the Bank of America Merrill Lynch, decision made by the Bank of Japan was correct, but untimely, as it was made at the time of news about further decline of American economy. He said that the Bank of Japan was trying to fight against factors that it cannot control.
JPYUSD remains within rising long-term trend. According to the experts of Masterforex-V Trading System Department, the pair is forming sub-wave А(С)/С as a part of long-term bearish wave А/В, but AO index signals about the end of current sub-wave. However, further decline of the currency pair will be supported by Fibonacci points 79.39 and 78.83. The bearish trend will finish is sloping channel MF and pivot MF 81.43 are broken.
Text by: Eduard Culchenko, expert of Masterforex-V Trading System Department
