USD/JPY testing upper boundaries - Societe Generale

By FXstreet.com | Updated August 21, 2014 AAA

FXStreet (Guatemala) - Kit Juckes, chief analyst at Societe Generale noted that after the hawkish bias to FOMC minutes, the dovish camp gets its chance to sound off at Jackson Hole and focuses on the Yen.



Key quotes:



USD/JPY is on the verge of testing the upper bound of its half-year range, an attractive entry level to tactically trade a consolidation. Implied vol remains directional and realised vol is low, so we favour short vol trades on the downside”.



“As such, we recommend buying a USD/JPY 1M RKO put strike 103.40 with a KO barrier at 100.80, the lower bound of the range”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  2. Forex News

    USD/JPY Holds 118.20 Support Ahead of Fed Rhetoric, NFP Report

  3. Forex News

    USD/JPY: Remains at risk of easing - TDS

  4. Forex News

    USD/JPY sold at 119.25; back to 119.00

  5. Forex News

    USD/JPY drops below 119.00

Trading Center