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CITI have put out a long NOKJPY trade.........>

FOREX
FOREX: CITI have put out a long NOKJPY trade recommendation.
- On the back of the EURUSD move on Friday, USD Scandies offer good levels to
get back short again. We added to our core NOK long position on these levels and
crossed it up with JPY.
- Following the usual JPY seasonality, USDJPY has rallied an average of 1.25%
from March 23 until Month-end in 9 out of the last 10 years.
- Entry: Y12.8680, Initial target to trim: Y12.9700, Ultimate target: Y13.2700,
Stop: Y12.7500.

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