In today’s briefing:
- USD/JPY Target Undershoot
USD/JPY Target Undershoot
- Our high conviction USD sell call at DXY 114/113 comprised the AUD, ZAR, Euro, KRW and JPY. Our focus today is the USD/JPY undershooting our 135 target.
- AUD is near our 0.6850 but could stretch to 0.69. USD/ZAR met the 17.10 PT. Euro target remains at 1.0650 just under the 1.07 MT resistance. USD/KRW 1,298 PT met.
- DXY 103 downside target with risk to 102 while aligning the US 10yr yield target of 3.50%/45%. NFP is the swing factor for yield today.
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