Yen continues to soften
The yen is hitting new lows as higher energy prices inspire a fresh rotation into reflation trades.
In Friday’s wrap I highlighted the AUD/JPY chart and the potential for a break above the September high. That’s exactly what we got today as that move follows earlier breakouts in CAD/JPY and USD/JPY.
I’m going to take a deeper looking into the causes of yen weakness today and what that means for global markets and the global economy.
For now though, the yen charts tell the story.
This article was originally published by Forexlive.com. Read the original article here.