We see two conditions necessary for a sustainable reversal in the JPY – Societe Generale
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Economics at Societe Generale raised doubts on the ability of the Bank of Japan’s (BOJ) intervention to reverse the USD/JPY bull run while citing two needed conditions.
Among them, the BOJ’s abandonment of the curve control becomes the first.
Further, a recession unfolds in the US and causes US Treasury yields to fall was cited as the second necessary action for the USD/JPY to reverse.
It should be noted that the latest chatters over the BOJ intervention were also targeted by the analysts as, “Unilateral intervention could keep USD/JPY from scaling new highs but won’t be enough to reverse the downtrend.”
USD/JPY remains pressured around the intraday low near 143.00 while paring the consecutive fifth weekly gains.
Also read: USD/JPY oscillates around 143.50 as investors await fresh development on BOJ intervention
[/s2If]
Join Our Telegram Group
