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Jun 01 - 06:55 AM

USD/JPY - It's Worth Hedging The Risk That USD/JPY Reaches 147

By Jeremy Boulton  —  Jun 01 - 04:45 AM
  • USD/JPY is trading a steep uptrend fuelled by diverging Fed/BOJ policy

  • This has resulted in a swift rise this year from 114 area to 131.35

  • There has been no move to curb the rally but plenty of talk to fuel it

  • BOJ has repeatedly voiced the intent to pursue super-easy policy

  • Federal Reserve has repeatedly said it will hike in 50bps steps

  • There is lots of fuel in the pipeline to fire this rally

  • Should USD/JPY close over 130.57 it may return to 1998 high at 147.64

  • Vols have sunk. Traders are less well prepared for a bigger rise

  • A minimum tech correction of losses spurred by 1985 Plaza Accord is 146.81




USD/JPY Click here

USDJPY Click here

Source:
Refinitiv IFR Research/Market Commentary

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