WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Japan: Yen and the Nikkei

Posted by Joseph Trevisani on Feb 6, 2013 1:20:00 PM

The weak yen trend continues to bolster Japanese stocks, with the Nikkei 225 closing up 3.77% at 11,463.75 today. This puts the index up 10.3% year-to-date. BMO Capital Market's Robert Kavcic notes that the Nikkei "is the top performing major equity index this year by a pretty wide margin. He say "a higher inflation target and more aggressively easier expected monetary policy are weakening the yen, which in turn is boosting the export-heavy equity market."   Dollar-yen topped out at Y94.06 earlier, the highest level seen since May 2010 (reversal high of Y94.99 seen May 4-5, 2010). A break of key resistance at Y95, would get the market talking about the next larger topside target at Y100. Dollar-yen last traded on a Y100 "handle" in mid April 2009.


Market News International





Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

Browse our frequently asked questions and find your answers right away.

Access to the educational lessons, webinars and platform walkthroughs.


Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!