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USDJPY trades at new highs for year/going back to 2007
The USDJPY was boosted higher in trading today on the back of the speculation that PM Shinzo Abe would delay a proposed sales tax and prepare for a snap election next month. It would make sense given the extra stimulus to delay the increase. Nevertheless, the JPY has taken another step higher in trading today to the multi year highs. Looking at the hourly chart below, traders who got in against the 100 hour MA in the Asian session were the big winners (blue line in the chart above). The 100 hour MA came in at 114.62. The low for the day was 114.625. Risk could defined and limited against the level. Those traders who ... (full story)
