I have been trading Forex for the last 4 years. One of the easiest pairs to trade is the USD/JPY. If you want to know where it’s headed next, just pay attention to the S&P 500. The Japanese Yen is a safe haven currencies, so if the S&P 500 is going up, it means a risk on environment and so the USD/JPY should go up. If the S&P 500 is going down, it means a risk off environment and so the USD/JPY should go down.
Still, Street consensus favors a continued rally in the currency pair. According to RBC Capital Markets,
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