- Analytics
- News and Tools
- Market News
- CHF/JPY: Pullback shallow until geopolitical angst subsides, BoJ hikes or abandons YCC – SocGen
CHF/JPY: Pullback shallow until geopolitical angst subsides, BoJ hikes or abandons YCC – SocGen
Onwards and upwards. CHF/JPY has broken the previous high of 159 in 1979. Economists at Société Générale analyze the pair’s outlook.
CHF/JPY technically overbought after overcoming high of 1979
The BoJ meets next week. Governor Ueda last week signalled no change in policy. The cross is technically stretched so a correction could be overdue. However, it is difficult to envisage a sustainable turnaround until the BoJ raises rates, abandons YCC or the SNB sells Swiss Franc. Neither of the three scenarios looks plausible in the near term.
BoJ intervention last year in USD/JPY largely passed CHF/JPY so we should not overplay downside if the central bank decides to sell USD above 150.
© 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
