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Long USD/JPY: Trade of the week: RBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at RBC, suggests long USD/JPY pair as the trade of the week.

    Key Quotes

    “This week brings most of the remaining first-tier data releases and Fed speakers (November payrolls and Yellen’s testimony) ahead of the September 16 FOMC meeting.”

    “Once these hurdles are cleared, we think it more likely the ~70% probability currently attached to a December hike will rise toward 90% than fall toward 50%. Rising Fed hike expectations have so far generally been accompanied by rising risk appetite (the mirror image of the September experience) and if this continues we expect a combination of USD strength and “risk-on” markets this week, with the latter further supported by aggressive ECB easing.”

    “This should be a constructive background for USD/JPY pushing through the November
    highs.

    Long USD/JPY position established at 122.82

    Target 125.00

    Stop at 121.60
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