The state of the Asian market: the yen is under pressure

With the opening of the new week, the Japanese yen and other safe harbor currencies have turned out under pressure. The reason for the growth of optimism in the market is the divergence of the vectors of monetary policies of the USA and Japan. According to the latest statements of Kuroda the head of the Bank of Japan, which was held today, the Central Bank of Japan will continue to adhere to a soft monetary policy aimed at raising the target inflation rate of 2%.

As a result, the pair USD/JPY is trading near the July highs, but is also limited by these levels. Despite the fact that the probability of raising the rates of the US Federal Reserve remains significant, the US currency is in overbought across the entire spectrum of the market. And this pair USD/JPY is limited to a significant resistance level of 114.50.

Recommended for reading: https://esterholdings.com/en/2017/11/02/bitcoin-istoriya-razvitiya/ and https://esterholdings.com/en/category/tehnicheskij-analiz/.

Hanzenko Anton