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Oct 26 - 02:55 PM

USD/JPY: Very Bullish On USD/JPY And Do Not Want Miss Out On A Big Upmove Through 115 - ING

By eFXdata  —  Oct 26 - 01:30 PM

ING Research maintains a bullish bias on USD/JPY over the coming week. 

"On USD/JPY, we do not want to miss out on a big upmove through 115.00. We have a conviction call that the Fed will have to turn more hawkish – $ positive against the low-yielders. And a call that the energy crisis is here to stay over coming months with low inventory levels in the northern hemisphere," ING notes.

"We are already starting to see the Japanese trade deficit widen on energy and will see if the October figure pushes towards the JPY1tr  area. We are very bullish on USD/JPY," ING adds. 

Source:
ING Research/Market Commentary

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