JPY: Sell on rallies theme to persist - ING
Viraj Patel, Research Analyst at ING, suggests that the downward trend of USD/JPY is likely to persist, supported by the protectionist measures from the US administration.
Key Quotes
“With global trade wars in focus – and the yen the antithesis of US protectionist policies – we expect the downward bias for USD/JPY to remain firmly in place over the coming months. But look for USD/JPY to stay anchored around the 105 level this week in the absence of an escalation in the trade war narrative or any further leg lower in global equities – while equally, Japanese fiscal year-end and a negative USD bias from White House policy uncertainty should limit the scope for any significant upside in the pair (with the sell-on-rallies theme persisting).”
Author
Sandeep Kanihama
FXStreet Contributor
Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.
