Forex Trading:As the Yen plummets, it pushes the Yen Crosses to the Top of the % Gainers today!
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GBP/JPY is up 3.06% today…leading the way. Then the commodity crosses all come next…NZD/JPY, AUD/JPY and CAD/JPY. So the commodity currencies vs. the yen theme also continues on. This has been a theme lately that has brought me quite a bit of profit. I hope it has for you as well. Remember as “good times” return, it’s usually bad news for the Japanese yen and so being “short the yen” against currencies with better fundmental outlooks (like the Aussie) can be a great plan of attack. Year to date…the Aussie dollar is up over 10% on the calendar year while the yen is down by the same amount. So being a buyer of AUD/JPY on technical entries can be a great plan of attack. I also feel the exact same way about AUD/USD and looking for technical entries into it as well.

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