USDJPY – Down
USDJPY trading plan:
The strong dollar has the Japanese yen within a whisker of 150-per-dollar, seen as a level likely to provoke an official response or intervention. Gold is heading for its worst week since February as the rise in Treasury yields drives investors out of the precious metal, which pays no yield, and it nursed losses at $1,875 an ounce. Next week, the Japanese Ministry of Finance may announce measures to strengthen the national currency, and in the meantime, investment funds and speculators will be actively shorting the Yen and buying the Dollar on corrections. With this in mind, it is advisable to take advantage of the fall in prices to yesterday’s lows to open long positions in anticipation of a continuation of the uptrend.
Investment idea: buy 148.85 and take profit 149.66.
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