Forex rate forecast for the dollar yen pair USD / JPY today 05/16/2018
The most powerful trading signals to traders on the pair USD / JPY, are two reasons for opening long positions.
One reason, the yield differential of US and Japanese 10-letnihbumag exceeded the level of 3%, this is the maximum in the last six years and will contribute to an outflow of capital from the Japanese assets in favor of the US.
Another reason, early in the morning Country of the Rising Sun has reported a decrease in GDP of 0.2%, it is negative for the yen, as the Bank of Japan will not rush with the completion of asset purchase program on Tokyo Stock Exchange. It is worth mentioning the US GDP in the first quarter grew by 2.3%. The difference in the two rates perceptible and plays in favor of the Americans.
USD / JPY recommendation: Buy 110,20 / 109,90 and take profit 110,70.
Company analyst FreshForex