Weakening yen! - Japan needs it.

25 Mar

Weakening yen! - Japan needs it.

We are closely watching the Japanese Yen in US$ and C$ cross as we believe it is at critical levels in both cases.

At the time of writing Yen/US$ is at 91.78   and Yen/C$ cross is at 89.70

Yen/US$ has broken through 90.75-91.25 levels, above its 200 day moving average . This makes us very bullish, and we expect a swift move up to 95 levels.

On the other hand Yen/C$ has faced strong resistance in the 88-90 area.

Watch out for any movement above 90.

AQUISS (fx) is bearish of Yen in non US$ terms.

a top-down image of a golden Japanese Koi fish