Trade USDJPY

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Thinking of trading USDJPY?

    1. The USD/JPY market is often linked to commodities trading in Japan. So, research and analysis are relatively straightforward. In fact, you can look to global imports and exports to gauge market sentiment. 2. Relatively smooth trends and fantastic liquidity makes the USD/JPY pair appealing to both beginners and experienced traders. 3. The USD/JPY ads a special advantage to its traders. The yen carry-trade is when investors borrow yen at a low-interest rate to purchase either U.S. dollars or a currency that pays a high interest rate on its bonds. In June 2018, traders earned a 4.5% profit.
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As with all the major currency pairs, the USD/JPY also has a nickname. Even though it is not as well-known as some others, the pair is called the Gopher. The currency denotes how many Japanese yen (the quote currency) are needed to purchase one U.S dollar (the base currency).The USD/JPY sees a daily turnover in excess of $900B and it makes up an approximate 17.7% of the forex daily market. The price range in which the USD/JPY has moved in 10 years goes from 75.75 yen to 125.6 yen and is currently trading at 109.61 yen.Some of the easier correlations to have in mind when trading the USD/JPY is the Japanese imports vs exports. When the Japanese import more than they export, the US dollar strengthens against the yen, as they are purchasing more than they are selling. On top of that, because Japan is a huge exporter, trading relations with countries such as China can also impact the USD/JPY pair.

1. BoJ intervention - The BoJ (Bank of Japan) has a habit of intervening in the forex market when price action and movements may threaten economic growth and the Japanese export industry. So, traders must keep abreast of BoJ developments. If not, you may be in for a short, sharp, and expensive surprise. 2. Some of the major influences on the Gopher are the economic strength of their respective economies (when the US economy suffers, the yen is likely to strengthen, and vice versa). 3. Due to its size, any natural disasters can have a substantial effect in the country's economic health. Whilst the US economy is unlikely to be impacted to such a significant extent, natural disasters and fast reaction to them by the trader should be a priority.

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