Japanese Yen Forecast: FOMC vs BoJ, USD/JPY Vulnerable to a Reversal 2021-03-16 11:30:00 Justin McQueen, Analyst
JPY Price Analysis & News
USD/JPY Continues to Track Treasury Yields
Since the beginning of the year, USD/JPY has been a one-way trade, where the pair has moved in lockstep with US bond yields. That said, while momentum continues to point to a market that is bid USD/JPY, given how overbought the pair is, chasing this move higher looks unattractive from current levels. Alongside this, USD/JPY speculative positioning has moved into neutral territory following a liquidation in bullish bets and thus risks are more broadly balanced.
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