WHO is buying YEN ?
The obvious answer is the Bank of Japan. Read here, here and here
From the weekly chart , you can see an obvious trend- ONE WAY UP for all major pairs trading against the YEN.
The answer is simple. You would want to buy the currencies that offer you a higher rate of returns as rewards thus USDJPY is the most preferred currency pair amongst all others.
On average, we are talking about a 50% return since March 2020. I believe so long as the US dollar remains strong and interest rates for next year continue to go up, YEN weakness remains. So, the party ain't over.
Please DYODD
From the weekly chart , you can see an obvious trend- ONE WAY UP for all major pairs trading against the YEN.
The answer is simple. You would want to buy the currencies that offer you a higher rate of returns as rewards thus USDJPY is the most preferred currency pair amongst all others.
On average, we are talking about a 50% return since March 2020. I believe so long as the US dollar remains strong and interest rates for next year continue to go up, YEN weakness remains. So, the party ain't over.
Please DYODD
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