The Japanese Yen is always viewed as a ‘safe haven’ currency. What this means is that investors/traders flocked into the currency in times of heightened market fear. Understandably, the currency rose sharply in the last quarter of 2018 – culminating in a huge spike earlier this year.
However, as this fear starts to recede in 2019, traders are slowly shedding their Yen longs. Last Thursday, I highlighted the upside potential in EURJPY as it is currently far beneath its long-term trend indicator. This view remains intact. The most recent test to 124.5 – and subsequent rebound – affirms that the FX rate is still aiming toward 128.0. 
For the USDJPY, the rate is too probing the 110.0 resistance. A break of this ceiling should push the pair into 111.0, where the 150-day moving average trend indicator is currently residing.
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Jackson is a core part of the editorial team at GoodMoneyGuide.com.
With over 15 years of industry experience as a financial analyst, he brings a wealth of knowledge and expertise to our content and readers.
Previously, Jackson was the director of Stockcube Research as Head of Investors Intelligence. This pivotal role involved providing market timing advice and research to some of the world’s largest institutions and hedge funds.
Jackson brings a huge amount of expertise in areas as diverse as global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University and has authored over 200 guides for GoodMoneyGuide.com.