During the European session, USD/JPY recovered its early losses and traded flat near 143.50. After three consecutive days of declines, the US dollar attracted buying interest on Thursday, pushing the pair higher. Against the backdrop of rising safe-haven demand for the Japanese yen and a generally weak US dollar, USD/JPY had fallen to a two-week low. The yen also benefited from upbeat machinery order data, which overshadowed recession concerns and boosted hopes for an economic recovery. This provided support for the Bank of Japan (BOJ) to further raise interest rates. Combined with sustained safe-haven buying, this has kept the yen strong.
In the market, there are no absolutes, and neither upward nor downward trends are set in stone. Therefore, the ability to judge the balance between market gains and losses is your key to success. Let money become our loyal servant.
In the market, there are no absolutes, and neither upward nor downward trends are set in stone. Therefore, the ability to judge the balance between market gains and losses is your key to success. Let money become our loyal servant.
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