Analysts at Citibank, see the USD/JPY trading at 106 in a three month period and at 103 between the next six to twelve months. In the short-term, they consider the pair could rise further. Key Quotes: “US-China tensions escalation and the concern of second wave crisis drove money flow into safe haven assets, which also support yen”. “We think the Yen fairs well as the V shaped stocks recovery meets headwinds from 2nd waves. More longer term, we do see scope for a move down toward 100. We expect the BoJ to lift its short-term policy rate to 0% in October 2021, alongside a hike in its 10yr JGB yield target.” “The pattern on USD/JPY now looks like an inverted head and shoulders with a neckline at 107.63. A break above would signal the potential for a move as high as the 06 April high at 109.38 again. However, USD/JPY is testing good resistance at 107.55/60 (55-day MA). A close below would suggest at least a pause in this rally”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: All ears to the ground for Brexit themes ahead of June 30 FX Street 3 years Analysts at Citibank, see the USD/JPY trading at 106 in a three month period and at 103 between the next six to twelve months. In the short-term, they consider the pair could rise further. Key Quotes: “US-China tensions escalation and the concern of second wave crisis drove money flow into safe haven assets, which also support yen”. “We think the Yen fairs well as the V shaped stocks recovery meets headwinds from 2nd waves. More longer term, we do see scope for a move down toward 100. We expect the BoJ to lift its short-term policy rate to 0% in… 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.
