USD/JPY dropped below 149 yesterday, Danske Bank's FX analyst Jens Nærvig Pedersen reports.
USD/JPY is closing in a target of 147
"USD/JPY dropped below 149 yesterday in response to the sharp decline in oil prices and US bond yields that followed an overall deterioration in risk sentiment in financial markets."
"We recommended a short position in USD/JPY and the pair is closing in on our soft target of 147. Hence, the trade has performed well, but we think it has further to go."
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Tempus AI: Architecting the Next Era of Intelligent Diagnostics
TradingKey - Tempus AI (TEM) is leading a tectonic transformation of how the healthcare system utilizes diagnostics, not simply ordering tests, but correlating them with patient-level data and incorporating AI to make all insight tailored to each individual.TradingKey
6 hours ago
Why Rigetti Is Positioning Itself for the Next Compute Revolution
TradingKey - Being a full-stack innovator in the race to achieve quantum advantage, Rigetti Computing (RGTI) has developed a vertically integrated superconducting quantum computing platform just when the industry is still in its early stage and undergoing tremendous growth.TradingKey
9 hours ago
Q1 2025 Market Forecast: What Bank Results Indicate About the Direction of the Stock Market
TradingKey - As the first quarter of 2025 is wrapping up, investors are piecing together a more detailed view of the next direction of the stock market.TradingKey
10 hours ago
VIX Off Its Highs — Is a U.S. Market Rebound Taking Shape?
TradingKey - The Cboe Volatility Index (VIX), widely regarded as Wall Street’s "fear gauge," has dropped sharply after briefly surging above 50 last week. It has since pulled back to the 30 range.TradingKey
Fri, Apr 18
[Reuters Breakingviews] Trump kicks all of Asia into the China tariff boat
HONG KONG, April 3 (Reuters Breakingviews) - Donald Trump’s second trade war is a battle of one against all. Reciprocal tariffs announced on Wednesday by the White House hit China with a hike of 34 percentage points, taking the fresh levies on exports from the People’s Republic up 5...Reuters
Thu, Apr 3
