USD/JPY Highlights Safe-Haven Flows Leaving the Dollar

in LeoFinance4 years ago

Direct from the desk of Dane Williams,
This is not your average forex broker blog.




Even with the bounce off lows we've seen this week in equities, I can't attribute it to anything more than a dead cat bounce.

The economic situation is going to get a lot worse from here and I'm expecting a resumption in selling across indices markets next week.

At the start of this crisis, we'd seen equities dumps move into the save-haven of USD, but with the Fed promising to print unlimited money if required, maybe the Yen returns to favour here?

We've already started to see a turn on the USD/JPY daily chart, with the pair ripping down off its original swing high resistance zone.

USD/JPY Daily:
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Japan is seemingly handling the outbreak of Coronavirus on their shores much better than the US and as a classic safe-haven currency, we could see USD/JPY really start to dump back through some of these daily zones next week.

Best of probabilities to you,

Dane.




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