Japanese Yen Nonetheless Shedding Cornavirus Haven Battle to US Greenback
Japanese Yen Technical Evaluation Speaking Factors:
- USD/JPY has regained its former uptrend channel
- That band nonetheless appears to have significance for commerce
- AUD/JPY in the meantime eyes its financial-crisis lows
The Japanese Yen has been hit as have many different currencies by the US Dollar’s speedy emergence as buyers’ haven of selection as coronavirus continues to wreak economic and social havoc world wide. In fact the Japanese unit is normally no slouch itself within the anti-risk stakes, however the realization that many buyers can see no vacation spot remotely as secure because the buck has seen the Yen retreat from the three year-highs seen towards the Greenback earlier this month.
Certainly, USDJPY is now again nicely inside the uptrend channel which had been comfortably in place from the lows of final August till it was damaged to the draw back in late February of this 12 months.
It could be uncertain that this channel has something related left to inform us given the depth of the following fall…