Dollar yen forex forecast pair USD / JPY today 17/05/2018
Traders of the currency market today for the pair Dollar Yen (USD / JPY) are two reasons to open long positions Buy.
The first reason for traders to buy the pair USD / JPY, this upward trend in the US and Japanese stock markets, which will contribute to the growth, as USD / JPY pair has a strong correlation with the S & P 500 and Nikkei 225. The US S & P 500 index today may test the seven-week max (2743) - as indicated by the decline in the index of "fear" VIX.
The second reason for the long positions on the dollar yen pair, it is the credit market where the yield differential of US and Japanese 10-year bonds at today's high of six years, this is a positive factor for the greenback. The exchange rate of the Dollar Yen USD / JPY is consolidating in a narrow range, and today traders may want to wait for the strong growth in prices.
USD / JPY recommendation: Buy 110,39 / 110,15 and take profit 110,84.
Company analyst FreshForex