In an interview on Forex TV, I spoke with Tim Kelly about the short and long term impact of the catastrophic earthquake in Japan on USD/JPY. In addition, we discussed the opposing forces moving EUR/USD and where it will be in the next few weeks, among other topics. Enjoy!
More than a thousand people were killed in the horrific 8.9 magnitude earthquake that hit Japan earlier in the day. There were some extra aftershocks,and they were devastating as well. After an initial rise, USD/JPY fell as money was repatriated to Japan. An intervention by the BOJ can happen to avoid a stronger yen that may weigh on the already fragile Japanese economy.
See the USD/JPY forecast for technical levels.
EUR/USD is stuck in a range – opposing forces manage to stabilize this pair. Will this last? See more in the video.