Preferred direction: BUY
Comment: We actively continue to follow our previous bullish scenarios for this currency pair. In general, in the medium term, we expect a strengthening of the US currency, which the Japanese yen will feel the most painfully. Moreover, earlier we talked about the long term, and here it is unlikely that we will have to wait for the price trading below the level of 150. We expect that the instrument will trade above this psychological level.
According to the results of yesterday's trading, the Japanese currency was the first to demonstrate weakness and ready to capitulate against the US dollar in the medium term. A limit seller for JPY has appeared, or rather, a recent limit buyer is fixing his positions. A number of major currencies still have growth potential against the US dollar in the short term, but in the medium term they are likely to follow the same path as the yen. By the way, we also do not rule out a temporary strengthening of the Japanese yen, especially against the backdrop of the publication of PPI and Retail Sales, but it is unlikely that there will be an update of local lows.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: We actively continue to follow our previous bullish scenarios for this currency pair. In general, in the medium term, we expect a strengthening of the US currency, which the Japanese yen will feel the most painfully. Moreover, earlier we talked about the long term, and here it is unlikely that we will have to wait for the price trading below the level of 150. We expect that the instrument will trade above this psychological level.
According to the results of yesterday's trading, the Japanese currency was the first to demonstrate weakness and ready to capitulate against the US dollar in the medium term. A limit seller for JPY has appeared, or rather, a recent limit buyer is fixing his positions. A number of major currencies still have growth potential against the US dollar in the short term, but in the medium term they are likely to follow the same path as the yen. By the way, we also do not rule out a temporary strengthening of the Japanese yen, especially against the backdrop of the publication of PPI and Retail Sales, but it is unlikely that there will be an update of local lows.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for boost and share your views!
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