JPY Trading Outlook (03-04-2014)
USD/JPY: Despite a relatively good ADP data, USD/JPY shoot off to the recent high 103.80-90 area but negative pull backs was mostly from EUR/JPY enduring heavy bunds selling to unwind last week’s ECB easing hints. The outlook for BOJ QQE2 before mid-years looks strengthening; rising treasury yields and real yield spreads favour a weaker yen. However, this has already been priced in on recent USD/JPY on expecting a good US. NFP data. A retest of 105.45 highs would require all of the above to come in places.
Back to JPY Trading Outlook Archive
