Dollar/yen broke down on political worries and lost the 110 level. Could it extend the drop? Here is their view, courtesy of eFXnews: Societe Generale FX Strategy Research notes that the last year can be divided into two ranges for USD/JPY and US 10-year treasuries: “Pre-Trump, USD/JPY traded in a 98-108 range and 10s in a 1.31.8% range. Since mid-November, USD/JPY has traded in a 108-119 range, 10s in a 2.15-2.70 range. We are at the bottom of that range, in both FX and bond markets. From here, SocGen prefers to be short yen than short Treasuries. “Now that we’ve see a sizeable long position build-up in CFTC data, We’re more inclined to view this latest move as the last hurrah of the bond bulls, and fade it by staying long EUR/JPY and going long USD/JPY,” SocGen advises. USD/JPY is trading circa 109.35 as of writing. For lots more FX trades from major banks, sign up to eFXplus By signing up to 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 Forex News Today: Daily Trading News share Read Next 3 Scenarios For UK Election & Targets For GBP/USD – SEB Yohay Elam 6 years Dollar/yen broke down on political worries and lost the 110 level. Could it extend the drop? Here is their view, courtesy of eFXnews: Societe Generale FX Strategy Research notes that the last year can be divided into two ranges for USD/JPY and US 10-year treasuries: "Pre-Trump, USD/JPY traded in a 98-108 range and 10s in a 1.31.8% range. Since mid-November, USD/JPY has traded in a 108-119 range, 10s in a 2.15-2.70 range. We are at the bottom of that range, in both FX and bond markets. From here, SocGen prefers to be short yen than short Treasuries. "Now that we've… 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.
