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4 Reasons For Further Correction; Dips A 'Prime Opportunity' To Buy
The USD/JPY is losing momentum... As a first correction risk, we are monitoring any unwinding of speculative USD longs driven by the USD/JPY rally. We think the USD/JPY will likely rise quickly to 115-118 level, and estimate that Japanese real-demand traders can be cautious about buying an expensive USD. It is difficult to claim that support for the USD/JPY at the high-110s of firm. Second, there is still uncertainty concerning the Trump’s policies. If Mr. Trump again emphasizes his public commitments including tax cuts at his first press conference today after the election, this will likely be viewed ... (full story)