USD/JPY to trade within 108.00-109.00 range in the week ahead – Societe Generale

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Analysts at Societe Generale believe that the US dollar is likely to derive support from the Treasury yields, which will, in turn, help keep the sentiment around the USD/JPY buoyed.

Key Quotes:

“The decline in USD/JPY may be limited due to higher Treasury yields and US stocks, although gains are expected to face a hurdle above the 109.00 level. 

Short-term positions in USD/JPY appears to be neutral at the moment.

Geopolitical tensions in the Middle East and any comments by Trump on the dollar itself or trade could be risk factors. 

USD/JPY to trade within a range of 108.00 to 109.00 in the next week and may head towards either 107.50 or 109.50 – although saying that markets will generally struggle to find a clear direction.”

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