The JPY and USD pair proved that in times of crisis that they can turn in a song and dance routine that becomes rather well practiced. The currency pair moved in a consolidated manner as Asian bourses reflected their international counterparts and proved almost mute. Investors globally have shown that they are waiting for impetus to make their next push. With the Central Bank meetings coming from the ECB and BoE tomorrow and Retail Sales data from the States on Friday, traders may see a push from these events. Until then the JPY will find itself under the spell of risk sentiment.
Written by bforex.com