USD/JPY Long into FED Taper
Looking to buy retracements of the breakout rally on USD/JPY.
Y112 held for 3 years and was broken as US FED moves closer to tapering at the November meeting and US 10yr Yields move higher in anticipation.
US Inflation remains stubbornly high and whilst Oil and Gas remain at year highs Inflation fears will persist and help underpin the USD.
Can buy at Y112.70 or ideally but less likely a retest of the key breakout level at Y112. Over the coming days and weeks a move to Y115 is the target as we move closer to the next FED meeting.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Y112 held for 3 years and was broken as US FED moves closer to tapering at the November meeting and US 10yr Yields move higher in anticipation.
US Inflation remains stubbornly high and whilst Oil and Gas remain at year highs Inflation fears will persist and help underpin the USD.
Can buy at Y112.70 or ideally but less likely a retest of the key breakout level at Y112. Over the coming days and weeks a move to Y115 is the target as we move closer to the next FED meeting.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
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