USD/JPY started off the week with a drop under 109, but the team at Citi has other plans for the pair. Here is their trade of the week:
Here is their view, courtesy of eFXnews:
Currency investors should consider buying USD/JPY this week, advises CitiFX Research in its weekly FX pick.
Citi recommends buying USD/JPY* around 109.30 targeting 111.50 with a stop at 107.85.
Citi weekly trades provide short term guidance on where they see 1-2 week opportunities in G10 FX markets.
Here is how the recent moves look on the dollar/yen daily chart:
