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Long USDJPY against 82.35

Long USDJPY against 82.35

David Rodriguez, Head of Product

I took a long post-FOMC on USDJPY as I thought a serious move higher in Treasury Yields pointed to further USDJPY gains.

I think this may continue as the 10-Year Treasury yield moves sharply off of its 200-day moving average, and the correlation between treasuries and the USDJPY trades near record strength. Targets are 83.30, 84, and obviously fresh highs.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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