For the rest of the summer, I’m going to try and be a strong bull in this market and corner it. I know that we are sitting at very low points on yen charts and Japan is an exporting country so it tends to not enjoy expensive yen, and the Federal Reserve could go through a monetary tightening sequence sometime in fall or winter.
In regards to brexit and Yellen testifying, I’m going to make a safe bet that the UK will remain with the EU, which means that the nothing has changed in that section in the world and people won’t fly to yen safe havens. As for Yellen I believe she will state something good for the US economy. I felt that she gave some of that sentiment in her last speech. Anyways, If you’re expecting that we are reaching the bottom of the yen pairs, now is a great time to make a case of an entry.