US Dollar-Yen strengthens, Still Driven by interest in the Risk
fxbom.com
04:48 PM
In today’s trading the dollar against the yen again showed positive movement (2.12). Yen again lead to a weekly decline against the dollar driven by market sentiment began to leave the safe haven currency and switch back into the asset yielding and higher risk.
Japan’s domestic economic data that are less well also lead to the reluctance of investors to collect the Japanese currency. This morning the capital expenditure data in the third quarter showed a significant decrease of 9.8% over the same quarter last year. Figure is larger decline more than doubled compared with the estimated reduction in the estimate is only a decrease of 4.1%.
Today the dollar against the yen appears to be at position 77.81. The position of the dollar-yen today experiencing a significant increase compared with the close of trading early this morning in the 77.68 level. For two weeks running the dollar against the yen tends to increase.
Fxbom.com analysts assess that the dollar-yen will still tend to experience a sideways conditions. Today the dollar against the yen tend to still have the potential to continue rising. It is estimated that the dollar-yen will face support – resistance in the range of 77.60 – 78.00.
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