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12 Aug 2014
USD/JPY should drift up early this week - SocGen
FXStreet (Bali) - USD/JPY should drift up in the early part of the week, notes Kit Juckes, FX Strategist at Societe Generale.
Key Quotes
"USD/JPY, where we are offside, should drift up in the early part of the week if we see stale risk markets and higher US yields."
"We were caught out by the risk sell-off, and the way the yen traded suggested we are far from being alone."
"101-103 is holding however and we think the eventual break is to the upside so with stops below 101, we’re staying (nervously) in the trade..."
Key Quotes
"USD/JPY, where we are offside, should drift up in the early part of the week if we see stale risk markets and higher US yields."
"We were caught out by the risk sell-off, and the way the yen traded suggested we are far from being alone."
"101-103 is holding however and we think the eventual break is to the upside so with stops below 101, we’re staying (nervously) in the trade..."