What to do with USDJPY?
As USDJPY retests 101.30s and US 10-year yields hit 6-month lows, is it time to accumulate fresh longs in USDJPY now that the pair is nearing its 100-day moving average for the first time since 18 months? Falling US yields is not only a case of the US, while the rising JPY emerged amid the deterioration of risk appetite following disappointing US industrial production (which fell due to a drop in utilities/heat demand following weather improvement). We are currently sitting on a USDJPY short from April 23 Premium Insights with a 90-pip gain. Do we open fresh shorts or is it time to enter on the long side? We call into focus the meaning of the "-57000" relating to USDJPY in a never-previously posted chart.
|Industrial Production (m/m)|
|-0.6%||0.1%||0.9%||May 15 13:15|
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