The Japanese yen is slipping against most major currency rivals to start the trading week, driven by considerable weakness in the nationâs manufacturing sector, housing industry, and labor market. Although Tokyo had experienced some positive economic data early last week, these were offset by bearish trends throughout the economy. The Jibun Bank Japan manufacturing purchasing managersâ index (PMI) was revised downward to 48.4 in October, down from […]
Read moreThe Australian dollar versus the Japanese yen currency pair behaved as expected, as it appreciated from 0.8918 to 0.9039. Long-term perspective After printing the diamond that found support at 0.8918, the price rallied, piercing the 0.9100 psychological level that — beginning with late August — served as resistance and stopping at the 0.9093 level. After such a rally, usually, the situation can unfold in two different manners. The first one takes the form of a consolidation — pennant, […]
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