Yahoo Finance Korean Summit and Bank of Japan Tomorrow Impact Yen
Two major risk events will take place in Asia tomorrow, the Bank of Japan meeting and the Korean summit.
Major Risk Events in Asia Early on Friday
The Yen’s weak mid-term trend continues to break through resistance. And early on Friday, a host of risk events will flare in Asia which will make investors nervous.
The Bank of Japan will issue its Monetary Policy and conduct its Press Conference. And overshadowing the central bank will be the summit between South Korea and North Korea, which will cause trading impact tomorrow and on Monday.
Long-Term Shows Wicked Results in Yen
A long-term chart shows the wicked volatility seen in the Yen over the last six months – as it has gone from weakness to strength, and is flirting again with the lower realms of its value. The Yen is near 109.25 versus the U.S Dollar.
The Yen has always been a crucial barometer of risk appetite for investors. A weaker Yen tends to point to more risk-taking. However, tomorrow’s events will make the short-term dangerous and traders may want to practice caution.
In the short term, we believe the Yen could be negative. The mid-term and Long term we are unbiased.
Yaron Mazor is a senior analyst at SuperTraderTV.
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This article was originally posted on FX Empire
