DislikedThere's a lot more to this than just Yen - $ correlation. The last NFP - the environment was all about risk aversion. Bad NFP meant more bad news in addition to the already bad news about credit risks, housing problems, etc.
So Yen pairs dropped.. because people wanted to get their money out of carry trades and invest it somewhere else. $ pairs rocketed up,, obviously.. because of bad NFP.. that's not exactly good news for the $.
I would not trade any yen pairs on NFP news.. I will stick to only EUR/USD or GBP/USD.Ignored
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