The Japanese yen has continued to weaken all over the last week. The reason is that risk appetite hasn’t faded from the market psychology yet. With the Dow maintaining gains but remaining rang-bound there is not a strong surge but rather optimism in the market.

The Japanese yen is weakening as Dow’s strengthen. The same yen that was stronger as the Dow pulled back, broke the uptrend on the daily chart, and sunk through 13,000. Now with a choppy range forming and prices pushing higher in the range, the yen is sinking on risk appetite.