Is it Time to Trade the Yen?

The yen is a popular asset during turbulent times.  Traditionally, this has been the case.  Even as the repercussions of Russia’s invasion of Ukraine roil the global economy, the yen has actually declined more than other major currencies, in a sign that it may be losing appeal as a safe bet in times of turmoil.

A weak Japanese Yen (influenced by the Bank of Japan’s pledge to continue monetary easing until its inflation target of 2% is reached) and a strong British Pound. The USD/JPY currency pair continued to rise over the past day to trade at a new 6-year high above ¥121, a key psychological level. It looks likely to advance higher still over the coming days. Other Yen crosses, notably the GBP/JPY, are advancing even more strongly.

To see all the forex currency pairs available at Errante, click here:

https://errante.com/global-market/forex-markets/

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Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

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