#EURJPY @ 140.149 points to a deeper drop towards 130 – SocGen
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EUR/JPY licks its wounds after slump to 138.81. Nevertheless, economists at Société Générale expect the pair to suffer further losses toward 130.
“For European and US fixed income markets, less Japanese buying could mean trouble ahead and greater pressure on domestic investors to absorb the overhang of new debt.”
“New highs for 10y Bund yields and swaps are possible Q1 if we bring together bearish forces including bond supply, higher ECB rates and the start of QT.”
“Fundamentals aside, the chart for EUR/JPY is showing an interesting parallel with early 2015 and points to a deeper drop towards 130.”
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