The Japanese yen continues to reflect the volatility which has gripped the financial markets. What is the bias for USD/JPY and EUR/JPY?
Here is their view, courtesy of eFXdata:
“USDJPY still stays in a range of 107.30/108.00 and is waiting for break out for either side,” Citi notes.
“Our trader is keeping an eye on cross-JPY. “EURJPY tried 116.00 again and failed, not sure what is holding it up there but it’s pretty decent support for now. Breaking the level opens the room to go further down to 115 and eventually 110,” Citi adds.
For lots more FX trades from major banks, sign up to eFXplus
By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.
Share
