Japanese Yen Gives Up Some Positions

The Japanese yen gave up some of its recently conquered positions against the other major currencies as the investors continued to hold their bets on the monetary intervention in Japan.

Currency intervention looks to be a nice reasons for the Forex traders to fixate their long-term profit from the short USD/JPY, EUR/JPY positions. For the scalpers, it’s also a good opportunity to profit from the short-term speculative movements. The yen rose for the third day against the British pound today.

USD/JPY increased from 84.46 to 84.65 as of 10:48 GMT today. EUR/JPY rose from 107.40 to 107.69, while GBP/JPY went up from 131.10 to 131.31.

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