The yen has been flying again on Thursday, after the prospect of intervention in the currency markets to stem its appreciation was played down by a number of officials including Prime Minister Shinzo Abe. The comments in recent days has sent USDJPY into something of a freefall, first smashing through 1.11 – a key level of support over the last couple of months – to trade at its lowest level since the Bank of Japan expanded its quantitative and qualitative easing (QQE) program in October 2014. The decline is currently showing no signs of abating with the MACD and stochastic showing downside momentum building – confirming the move – ... READ MORE
