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12.07.2019, 06:59

USD/JPY to trade within 108.00-109.00 range in the week ahead – Societe Generale

Analysts at Societe Generale believe that the US dollar is likely to derive support from the Treasury yields, which will, in turn, help keep the sentiment around the USD/JPY buoyed.

“The decline in USD/JPY may be limited due to higher Treasury yields and US stocks, although gains are expected to face a hurdle above the 109.00 level. Short-term positions in USD/JPY appears to be neutral at the moment. Geopolitical tensions in the Middle East and any comments by Trump on the dollar itself or trade could be risk factors. USD/JPY to trade within a range of 108.00 to 109.00 in the next week and may head towards either 107.50 or 109.50 - although saying that markets will generally struggle to find a clear direction.”

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