USD/JPY started off the week with ith a drop under 109, but the team at Citi has other plans for the pair. Here is their trade of the week:
Here is their view, courtesy of eFXnews:
Currency investors should consider buying USD/JPY this week, advises CitiFX Research in its weekly FX pick.
Citi recommends buying USD/JPY* around 109.30 targeting 111.50 with a stop at 107.85.
Citi weekly trades provide short term guidance on where they see 1-2 week opportunities in G10 FX markets.
For lots more FX trades from major banks, sign up to eFXplusBy signing up to eFXplus via the link above, you are directly supporting Forex Crunch.
Here is how the recent moves look on the dollar/yen daily chart:
Share
