The Japanese Yen Market Is Holding On Amidst Several Pressures

The Japanese Yen market is holding on currently amidst several pressures. The major market pairs have been barely holding on for a while as several news impacts continue to follow through. The Japanese Yen has appeared to be regulating itself, although a lot of geopolitical pressures are currently ongoing. The GBPJPY is currently seen oscillating below the major level of 161.000 as of the Tokyo session. The pair was to go lower after its unsuccessful attempt to hold up price action above the 162.000 key zone. The pound is still hoping to give a better outlook following the release of UK employment data. However, the price action is also still anticipated to be keen on employment data as well.

Japanese Yen Geopolitical Tension

Based on the unanimity, the National Statistics in the UK will report the claimant count change data with a lower steep of 11.4k, which is against the previous addition of 6.3k. However, the initial rate of unemployment is set to remain unchanged at 3.6%. Nevertheless, the average earnings data will be triggered at 5.3%, which is against the initial release of 5.2%. We are yet to experience price tension in the UK economy as it hasn’t reached its peak as a result of the unavailability of tiredness signals. There is therefore a need for higher paychecks to compensate for higher payouts, which is a result of the inflation of key necessities.

The Japanese Yen, on its end, looks to be holding quite well despite the geopolitical pressures resulting from the rift with North Korea. The North Korean leader, Kim, has made a statement that their government does not have any reason to have a dialogue with the enemy as they are set to continue to strengthen their nuclear operation ahead. However, in reaction to North Korean military activities recently, the US and South Korea allied with Japan to perform military drills.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.