USD/JPY: Rally could extend to 140 – Scotiabank USDJPY Banks
“The technical backdrop in USD/JPY is bullish, with trend indicators aligned bullishly for USD/JPY across short, medium and long-term timeframes, with no obvious resistance points above the market until 135 and 147.65 .”“We do note that the JPY’s real effective exchange rate is at an all-time low while short-term market positioning indicators reflect a market that is running a quite significant short JPY position.
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