Japanese Yen Gains Ahead of Key Event Risk - Forex Anatomy

Japanese Yen Gains Ahead of Key Event Risk

I hope you’re having a wonderful start to your trading week by being a disciplined trader.

During this week’s “Technical Tuesday” Analysis Session, we provide a brief overview of the inter-day price dynamics in the EUR/USD and USD/JPY currency pairs, and offer various trade scenarios with projected targets that could form within the next few sessions.

Financial assets appear to be restrained, and favoring safety ahead of key central bank minutes, the Jackson Hole Economic Symposium, and this weekend’s G7 summit in France. The Japanese Yen (JPY) is appreciating as global bond yields soften & slide lower over concerns of slow global growth spawned by the lack of progress with the US-China trade war. The EUR/USD is also trading near its weekly lows for the session, along with the USD/JPY. But, we are expecting both currency majors to remain contained & range-bound through the week, as the summer volatility remains thin through the month of August.

During this time of the year, it is imperative that you exercise patience and discipline in your trading. We are in a trading season called the “summer doldrums”, when most of the heavy hitters (Hedge Fund Managers, Institutional Investors, etc.) are on vacation. Throughout the summer months, it is typical to see limited volatility combined with strange, erratic price movements, making it quite difficult to isolate high probability trading opportunities in the Spot Fx market. For this reason, a lot of professional traders stay out of the market during this time of the year.
We briefly talk about this in today’s “Technical Tuesday” trading session.
If you missed today’s “Technical Tuesday” session, you can watch the recording of the session at the video posted above. Or, you can tap on the following link that will explain why the Japanese Yen Gains Ahead of Key Event Risk.
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About the Author Melvin Perry

Melvin Perry has been trading the Forex market since 2010. Like his brother, he attended the University of Illinois in Urbana-Champaign and graduated with a BS in Bioengineering in 2002. Although an active trader, he spends most of his time reading the Bible, studying the markets and providing content for this blog. He also does an average of two training webinars a week with the Slumdog Forex VIP community.