US Dollar vs Japanese Yen - USD/JPY Daily Candle Chart 12th June 2009

US Dollar vs Japanese Yen - USD/JPY Daily Candle Chart 12th June 2009

An exciting week on the dollar yen chart, starting with a spinning top on Monday, down bar Tuesday, up bar Wednesday, down bar Thursday and an up bar today – metronomic, lethargic and impossible to trade as the Fed and BOJ slug it out.    Like two overweight, punch drunk heavyweight fighters these two leviathans of the currency market are now trading blows in an attempt to force their respective currencies to the bottom.  For this reason there is no clear bias to the dollar vs yen and you trade this pair at your peril given that the fundamental news on the economic calendar for both the US and Japan is equally dire.  Unless and until there is a knockout by one or the other my suggestion is to stay OUT.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.