Weakness In The Japanese Yen Is Over For Now, Part Two

 | Apr 08, 2012 04:52AM ET

A month ago I declared today’s unexpectedly weak U.S. nonfarm payrolls number sending traders scurrying to the yen , I believe we have growing evidence that the yen will not weaken much further from here for a while. GBP/JPY finally cracked support at 130 and looks ready to head much lower from here. It remains to be seen whether the stock market can regain its momentum despite the increasing weight of the yen.

GBP/JPY CHART

Be careful out there!

Full disclosure: long USD/JPY, EUR/JPY, AUD/JPY, sort GBP/JPY

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Dr. Duru

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