- Analytics
- News and Tools
- Market News
- USD/JPY to extend its rally towards the 110.97 March high - Westpac
USD/JPY to extend its rally towards the 110.97 March high - Westpac
FXStreet reports that economists at Westpac had been holding out for an opportunity to sell above 110 – however, this move has further to go near term with a retest of the March high at 110.97 on the cards.
“The combination of an enormous downside surprise for Wall Street economists on the April Nonfarm payrolls report followed by a just as enormous upside surprise on the April CPI report emphasizes that the near term outlook for the US$ remains super clouded.”
“It’s pretty obvious that we have witnessed another ‘gotcha’ moment for the growing number of ‘inflationistas’ out there. And it’s hard not to see the market running with this theme for the foreseeable future.”
“Last week we argued for a push back to the 109.50/110 level before considering selling. Clearly, the risks is that this move extends further with a likely break above the previous high at 110.97 on the cards.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
