USD/JPY (current price: 110.32)
The Yen broke below the crucial 110 level compared to the Dollar for the first time since the September of 2014. The Japanese central bank tried everything in the last few months to reach its inflation target and weaken the Yen, but it seems that the Bank of Japan ran out of monetary tools. Even negative interest rates can’t stop the advance in the currency.
Our assessment: USD/JPY hit a new bear market low yesterday and it is likely to fall further as global sentiment seems to be turning negative again.
