What is the forecast for USD/JPY?
TD Research is cautious on risk assets over the coming weeks and has booked profit on its short USD/JPY ToTW.
“We’re still not convinced that it’s smooth sailing for risk assets in the weeks ahead but understand the excitement of many to exhale finally. When the dust settles, though, markets will likely have to contend with some legal battles, a divided government, and the start of peak flu season,” TD notes.
“Against this, MSCI US screens as one of the most expensive major global benchmarks, though we take profit on our short TOTW USDJPY,” TD adds.
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