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19 Dec 2013
Flash: USD/JPY, 125 on the radar within 12 months - TDS
FXstreet.com (Bali) - Technically, Shaun Osborne, Chief FX Strategist at TDS, thinks the USD/JPY uprend has a lot of momentum behind it, and while corrections may take place, the squeeze on shorts Yen should be short-lived.
Key Quotes
"The break out from the neat consolidation triangle implies that the market is poised for a repeat of the 26 big figure rally from the break out point just above 99, putting 125 on the radar within the next 12 months."
"From a positioning point of view, we would rather get long nearer 100 now but a sustained push through 104 through the New Year might compel us to hold our nose and jump in on the long side."
Key Quotes
"The break out from the neat consolidation triangle implies that the market is poised for a repeat of the 26 big figure rally from the break out point just above 99, putting 125 on the radar within the next 12 months."
"From a positioning point of view, we would rather get long nearer 100 now but a sustained push through 104 through the New Year might compel us to hold our nose and jump in on the long side."