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Yen weakness continues to be the trade that keeps on giving but resistance looms

Today has certainly been a volatile day in the foreign exchange market but when you zoom out, not much has changed. The dollar is basically flat on the day with one single exception:The yen is the only real mover today, perhaps with some GBP weakness as well.I made the case for yen selling this week and today's price action certainly adds to it. US CPI was a touch low and the pair dropped initially but quickly reversed afterwards and is now testing 1.4500 and the June high of 145.07.That rip com... Read More

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Weakness

Continues

Trade

That

Keeps

Giving

Resistance

Looms

Forex

Posted: Aug 10 2023, 19:31

Author Name: forexlive

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