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Jul 22 - 10:55 AM

JPY: Sell USD/JPY Bounce - Citi

By eFXdata  —  Jul 22 - 09:30 AM

CitiFX Strategy like going short USD/JPY FOR 107.50.

"JPY was the weakest currency in the G10 space in the first half of this year, but it is performing well in July. We think this changing of performance reflects shifts in the JPY flow environment and believe USDJPY now has scope for further downside in the medium term," Citi notes. 

"The pair has rebounded after dropping close to 109 on Tuesday; we think this bounce provides a nice entry point to get into USDJPY shorts," Citi adds. 

Source:
Citi Research/Market Commentary

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