|Day's Range||74.82 - 75.171|
|52 Week Range||70.3520 - 80.6730|
The Fourth Quarter has started in a traditionally volatile mode. Equities are down, Government Bonds and Gold are in demand and in the Forex market it is the Japanese Yen that is benefitting the most. What does the 20-day simple moving average tell us?
The Australian Dollar now has the dubious honour of being the worst-performing G10 currency so far this month, in the leadup to its federal elections on May 18.
Today, I have for you three pairs with Japanese Yen. This pair is considered as a safe haven asset, so in theory, should gain, when the sentiment on the market is bearish.
Global risk sentiment turned positive on Friday afternoon as mixed trade data from China eased concerns over slowing global growth. With investors back in the mood for riskier assets, the Japanese Yen which is considered as a safe-haven currency tumbled across the board.
Trading on the market recently is pretty tough. The price is not moving in trends, often changes direction and creates many false breakouts.