The Citigroup analysts make a case for buying the dips in the USD/JPY pair below 107.50 support area, as they believe the downside doesn’t look more compelling.
Key Quotes:
“The move lower under support area circa 107.50 last week has not prompted an acceleration lower.
Take back shorts.
USD/JPY tends to focus more on the 10-year yield movement.
But the shorter end of the curve can outperform.
2-year/10-year spread may continue to steepen.”
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