10.12.2014 - The Japanese yen is strengthening
The price of the Japanese yen rises gradually against the background of number of factors. Thus, on the one hand the weakening of the dollar has led to a strengthening of the national currency of Japan, on the other hand, the demand for the yen as a defensive asset has increased due to a number of negative news. So in China have reported tightening requirements for credit conditions to limit lending. This step will negatively affect the construction sector, which continues to be a major risk for the region. In addition, the political crisis in Greece worsens the situation in the Eurozone. At the moment, we recommend to close long positions on USD/JPY, but keep medium-term negative outlook on the yen.