You may have heard that this week, the Japanese yen hit a 13-year high against the U.S. dollar. (To currency traders, this pair is known as the USD/JPY.) Apparently, the yen has "gained a reputation as a safe-haven currency during turbulent times…" In retrospect, that's a perfectly good explanation, but could you have predicted the yen's current strength six months ago? A year ago? It depends on how you went about doing it.
Right now, the Japanese Yen is nearing a 13-year high against the U.S. Dollar and headlines abound of the great "unwinding" of the Yen Carry Trade. If you think the Bank of Japan is behind the yen's rally, think again...
In mid-February, the exchange rate between the U.S. dollar and Japanese yen stood near 108. Today, it stands near 102, some 600 points (or pips) lower. What if you knew a technique, which -- just by looking at chart picture of the USD/JPY -- could have warned you of this move before it occurred? The free 9-minute video you are about to see shows you just how to do it.
Announcing EWI's New eBook ...
In this exciting new 45-page eBook, Jeffrey Kennedy shows you – using fresh, real-life market examples – how you can use simple, yet powerful, chart reading techniques to improve your trading.
Download your copy today!
Club EWI Members: Click Here