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20.04.201808:47 Forex Analysis & Reviews: Additional support for the Japanese yen

Long-term review

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USD / JPY

The Japanese yen finally waited for the dollar to hit the European currencies and shows growth the third day. Yesterday, the US stock market lost 0.57%, and today the Nikkei225 is down by 0.10%, but the yen adds 30 points under the impression of the dollar's index increase of 0.51% over the three days. Do not interfere with the growth of the yen and nondescript economic indicators. Today, the Tankan business confidence index for April showed a decline from 28 to 21. The basic consumer price index fell in the March estimate from 1.0% y / y to 0.9% y / y. The total CPI fell from 1.5% y / y to 1.1% y / y. In the light of new developments (sharp strengthening of the dollar), the decline in national inflation indicators may change their interpretation. The Bank of Japan will continue to buy out securities to achieve a target inflation rate of 2.0%, as recently stated by H. Kuroda. The index of business activity in the service sector showed zero growth against the expectations of growth of 0.1%.

We are looking forward to the growth of the yen in the range of 108.50 / 80.

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