I would like to observe the current relative strength of YEN pairs – who is seeing the sun shine, and who is under the rain (cloud)…
USDJPY, NZDJPY and CADJPY are already enjoying the sun shine, floating above the clouds.
AUDJPY and GBPJPY are still struggling in the cloud. Hopefully these guys will also see Sun shine soon.
On the other hand, EURJPY is well under the cloud, getting heavy rain.
So if you want to buy Yen, you would consider selling EURJPY.
But if you want to sell Yen, you would consider buying USDJPY, NZDJPY and CADJPY.
YJ Baik – Forex.Today @ Tokyo