USD/JPY: Capitulation looks overdone – TD Securities – by MSalordFX USDJPY Banks Currencies
will likely move to the upside in the short term. They have a trading idea of a long position in the pair with a target at 138.00 and stop-loss at 132.45 “While we think the USD is on course for a tactical pause that should benefit CHF and JPY, the capitulation in USDJPY looks overdone especially given our expectations for upcoming event risks. A stronger than expected ECI print suggests that the market may be premature in expecting the Fed to pivot on policy.
speak will lean hawkish and pushback against a premature pivot. Broadly speaking, we see 135 as an anchor for the pair relative rate spreads.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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