Expect Yen to rally next week given Italian downgrade by Moodys.Spain is next in line.
You’re probably right. But Ratings agencies have lost much of their reverence in recent years. Many still remember 2008.
I don’t expect any major moves in the near future. I am very bullish on the Yen, yet further analysis is telling me to wait. This pair has a history of ranging for extended periods. I’ve even considered a potential buy order at 109.10, or a bit lower.
I’m very very patient and cautious. Plus the swap rate is a killer if you’re not careful. It can act like a virus, slowly eating away at your funds.