USD/JPY should drift up early this week - SocGen

By FXstreet.com | August 11, 2014 AAA

FXStreet (Bali) - USD/JPY should drift up in the early part of the week, notes Kit Juckes, FX Strategist at Societe Generale.



Key Quotes



"USD/JPY, where we are offside, should drift up in the early part of the week if we see stale risk markets and higher US yields."



"We were caught out by the risk sell-off, and the way the yen traded suggested we are far from being alone."



"101-103 is holding however and we think the eventual break is to the upside so with stops below 101, we’re staying (nervously) in the trade..."



comments powered by Disqus
Related Forex Analysis
  1. EUR/USD sitting just above 1.2950 support
    Forex News

    EUR/USD sitting just above 1.2950 support

  2. Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data
    Forex News

    Yen Gains, Aussie Dollar Falls on Soft Chinese Economic Data

  3. USD/JPY drifting lower, but still well above 107.00
    Forex News

    USD/JPY drifting lower, but still well above 107.00

  4. Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping
    Forex News

    Crude Oil Prices Aiming to Extend Lower, SPX 500 May Be Topping

  5. USD/JPY Technical Analysis: Prices Set New Six-Year High
    Forex News

    USD/JPY Technical Analysis: Prices Set New Six-Year High

Trading Center