According to the latest news for Forex traders, the Japanese currency – yen – outperforms its main big contestants. American Dollar and Japanese Yen seem to go to the new level in 2017 because it pulls back to the support of the channel. Also, some facts say that the recent strength of currency in Japan was accompanied by the global benchmarks indices from all over the world that appeared to go down.
At the same time, Nikkei was trading near the low of January. Better outlook and more precise statistics are not available yet as the rate of exchange is trying to still save the bearish formation from the very beginning of 2017, as well as the RSI (Relative Strength Index). However, there is some facts and information appeared on the Internet about the indicator that seems to be disconnecting with the price. Instead, it goes after the attempt that has been recently failed.
In fact, the oscillator may have a better recovery in Japanese yen and American Dollar. The reason for such unusual move is that the oscillator goes away from the territory that appears to be oversold. The ISM non-manufacturing makes the risk of making completely similar fate. It is all expected to happen alongside the not so big downtick. Among all these facts, the limited market has also given their reactions and comments on what is currently happening on the trade to the U.S. information printed a little bit earlier.However, Fed Governor – Daniel Tarullo – has also talked about the current situation. In facts, the comments he gave earlier may have an influence on the outlook of USD as well as yen. A big number of officials of central bank show their interest and readiness to create a brand new program known as QE or quantitative easing program in the next few months. Central Bank seems to have the new goal of growing three or even four rate hikes this year.