USD JPY Turns Main Trend to Up

Less than positive comments from the Japanese Finance Minister are helping to rally the USD JPY.

Less than positive comments from the Japanese Finance Minister are helping to rally the USD JPY. Finance Minister Fujii restated his position about the Yen early in the trading session. A couple of weeks ago Fujii said a higher Yen would be good for the economy. Last night he retracted the comment and said he was against volatility in the currency markets and that currencies should be allowed to find value based on economic conditions.

The strong move through 90.44 has turned the main trend up on the daily chart.