Chart Analysis: USD/JPY

Wednesday, February 18, 2009

Chart - USD - JPY - 5 Day

Once a safe haven partner to the Dollar in times of economic stress, the Yen has been battling through some tough times lately. Not too long ago, speculation was that the Bank of Japan wanted the Yen to temper its strength in order to protect its export business, but recent events in Japan have caused the Yen to lose its luster amongst traders looking for security during hard times. In this real case of "be careful what you wish for", teh BOJ has seen their currency lose over 2% to the USD in less than 1 week. Looking at the Daily FX news, it seems as if Japan has more to worry about now than the goods they send to other countries - they are now faced with the prospect of returning to the gloomy 1990's.


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