FXStreet (Delhi) – Research Team at RBC, recommends to go long in the USDJPY pair in their trade of the week as they are expecting a hawkish set of FOMC Minutes (Wednesday). Key Quotes “While the Fed have reiterated that the path higher in rates will be a slow one, RBC remains above consensus and the forward curve in terms of the timing and extent of forthcoming tightening. Fed funds futures are discounting ~55bps of tightening in 2016 while we are calling for 150bps by end-2016. USD/JPY is the most leveraged to Fed expectations.” “Meanwhile, this week’s preliminary Q3 Japanese GDP data showed Japan in its second technical recession under PM Abe, keeping the door open for further QE from the BoJ. The risk to this trade is a sudden risk-off move.” • Long USD/JPY at 122.29 • Target: 124.20 • Stop: 121.20 For more information, read our latest forex news.