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Thursday 26 May 2016

Dollar bulls waiting for the USD/JPY rally

The dollar fizzled out, and USD/JPY mysteriously yanked up in the previous session. Nerves of the USD traders will be on edge until the end of next week,  before the release of important economic statistics that can affect the Fed's decision. So, the current situation:
- USD/JPY has returned to below 110 by mysterious and unfounded movement;
- Discrepancy between the market dynamics and the fundamental factors concern USD bulls;
- Traders are nervous before going out for an important decision on rates on US data next week.
Dollar plays out on a sudden sharp rise in the USD/JPY, which was so mysterious that even the agency Bloomberg published an article in which jokingly called it an attempt to create catalysts on flat ground. In short, it is no reason for the movement, let's call it "order flow", scratch our heads and move on.


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