USD/JPY started off the week with ith a drop under 109, but the team at Citi has other plans for the pair. Here is their trade of the week:
Here is their view, courtesy of eFXnews:
Currency investors should consider buying USD/JPY this week, advises CitiFX Research in its weekly FX pick.
Citi recommends buying USD/JPY* around 109.30Â targeting 111.50Â with a stop at 107.85.Â
Citi weekly trades provide short term guidance on where they see 1-2 week opportunities in G10 FX markets.
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Here is how the recent moves look on the dollar/yen daily chart:
