Forexpamm

The Central Bank of Japan is to blame for the devaluation of Yena

Events, which should be paid attention to today:

15.30 Moscow time. USA: Inflation for September.

USDJPY:

A pair updated the September maximum and was fixed above the level of 146, and the Bank of Japan did not intervention – this dynamics signals the continuation of the rising trend. Only the Central Bank of Japan can save Yen and no one else. A significant difference in the revenues of American and Japanese government bonds forces traders to buy a dollar. If you cheer up today Stock markets after the September release of inflation in the United States, this factor will only increase the pressure on Yen as a currency of funding No. 1 in Carry Trade operations. There are rumors on the sidelines that the Bank of Japan can conduct interventions near the mark of 150, therefore, as the quotes grow to this mark, it is advisable to fix the profit on Longs.

Trading recommendation: Buy 146.62/146.35 and Take Profit 147.10.