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Oct 08 - 11:00 AM
USD/JPY: The Case For Shorts Sufficiently Built; Rallies Will Be Met With Fresh Supply - Credit Suisse
First appeared on eFXplus on Oct 08 - 09:19 AM

Credit Suisse discusses USD/JPY outlook and maintains a tactical sell-on-rallies strategy.

"The case for shorts has sufficiently built and we have seen fresh supply on this move lower, with EURJPY endorsing the move on a clean break of 117.40 supports (albeit an episode of covering post-NFP on Friday)," CS notes. 

"The market does not have the USDJPY short trade on in sufficient size and we believe rallies from here (107.30/40) will be met with fresh supply. Trading in-line with this rally-fading strategy and watching 106.00/20 as support on the week," CS adds.

Source:
Credit Suisse Research/Market Commentary

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