JPY Friday January 26, 2018

TimeToWakeUp

Private
Messages
25
On the afternoon of Friday January 26, 2018 (2 days ago), both the EUR/JPY and GBP/JPY charts show a steep rise in the JPY for no discernible reason that I can find. There was no report or other news I have been able to connect this action with so I was wondering if anyone is aware of any event or news which could account for it please?
 

Rizog

Private, 1st Class
Messages
127
Perhaps, this is partly determined by the other market news. You just need to trace this pattern in order to understand the reason of growth. The full analysis is needed.
 

Nisoro

Recruit
Messages
67
Probably due to Bank of Japan’s earlier announcement reducing its purchase of government bonds. Lower purchase would higher supply in the market, reduction in the price and therefore, increase in yields. A higher yield of Japanese bond would mean greater interest among global investors thereby, strengthening JPY.
 
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