Analysts at MUFG Bank continue to see the USD/JPY pair with risks tilted to the downside after the aggressive Federal Reserve policy action. They have a target for the pair at 104.00 with a stop loss at 1.0900. Key Quotes: “The Fed’s aggressive policy response has helped to reduce the risk of the USD outperforming other traditional safe haven currencies such as the JPY and CHF. It has already resulted in the size of the Fed’s balance sheet expanding rapidly to almost USD7 trillion.” “The recent improvement in global investor risk sentiment as financial market strains have eased have put a dampener on JPY performance more broadly though. We expect the recent improvement in risk sentiment to be tested by depression like economic data releases and slow progress in reversing lockdown measures. The JPY stands to benefit the most if financial market conditions deteriorate again.” “The BoJ’s latest policy easing announcements are not sufficient to reverse the JPY strengthening trend on their own.” 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 Oil Price Analysis: WTI grinds above $29.00 in fresh May’s highs FX Street 2 years Analysts at MUFG Bank continue to see the USD/JPY pair with risks tilted to the downside after the aggressive Federal Reserve policy action. They have a target for the pair at 104.00 with a stop loss at 1.0900. Key Quotes: “The Fed’s aggressive policy response has helped to reduce the risk of the USD outperforming other traditional safe haven currencies such as the JPY and CHF. It has already resulted in the size of the Fed’s balance sheet expanding rapidly to almost USD7 trillion.” “The recent improvement in global investor risk sentiment as financial market strains have eased have put… 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.
