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Thomson Reuters
Jul 03 - 01:24 PM
USD/JPY: Prone To A Vicious Snapback; USD/CAD: Still Looking To Buy Dips Into 1.3150 - TD
First appeared on eFXplus on Jul 03 - 11:30 AM

TD Research flags a scope for a 'vicious snapback' in USD/JPY and expresses that via maintains a short position* targeting a move towards 105.

"USDJPY may be prone to a vicious snapback. We are watching 111.40/50 on the topside as a notable pivot point, with a return below 110 an accelerator to the downside," TD argues. 

TD also maintains its buy-on-dips into 1.3150 strategy for USD/CAD.

"For now, we view 1.3150 as an attractive dip buying opportunity and are focused on 1.35 over the summer before reconsidering its risk/reward potential of a fade," TD adds. 

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*Recorded in eFXplus Orders

Source:
TD Bank Research/Market Commentary

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