The Japanese yen attracts safe-haven flows but it has to compete with the US Dollar. What’s next? Here is their view, courtesy of eFXdata: CIBC Research discusses the JPY outlook and maintains a medium-term bullish bias into 2019, expecting USD/JPY to fall below 110 early next year. “We underlined last month (see here) three key reasons why we remain constructive on the JPY outlook: Japan’s large current account surplus, its net-creditor status, and the BoJ’s stealth tapering. All of these represent a land of the rising sun for the yen in terms of a medium-term appreciation ahead. The recent uptick in risk aversion could also see domestic investors stay within Japan in order to earn a return. Speculative JPY shorts have reached eight-month highs, suggesting that there is scope for a short covering rally, which would lend further support to the yen,” CIBC argues. 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. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Daily Look share Read Next IOTA price analysis: Crash or bounce is the question right now FX Street 4 years The Japanese yen attracts safe-haven flows but it has to compete with the US Dollar. What's next? Here is their view, courtesy of eFXdata: CIBC Research discusses the JPY outlook and maintains a medium-term bullish bias into 2019, expecting USD/JPY to fall below 110 early next year. "We underlined last month (see here) three key reasons why we remain constructive on the JPY outlook: Japan's large current account surplus, its net-creditor status, and the BoJ's stealth tapering. All of these represent a land of the rising sun for the yen in terms of a medium-term appreciation ahead. The recent uptick… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
