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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free Access###POV: SANGUINE USD/JPY OPTIONS.........>
DOLLAR-YEN: ###POV: SANGUINE USD/JPY OPTIONS MARKETS SIGNAL A MORE NEUTRAL
OUTLOOK
-After a choppy February and March, USD/JPY 1m risk reversals are beginning to
look more neutral, which may signal a calmer outlook for USD/JPY after a more
than 6% drop in spot this year. The measure has risen back to levels last seen
in late-January as demand for JPY strength protection dissipates. The lack of
sizeable USD/JPY options with strikes topping Y108 over the next fortnight may
further contain volatility.
-The break above the YTD downward trend line (approx. Y106) yesterday further
corroborates a more stable outlook. A close above the 50DMA (Y107.42) could also
confirm short-term support for the pair.
RISK: As yet, the Moritomo land sale scandal has had little effect outside of
the LDP's approval ratings, but a worsening outlook ahead of September elections
could dent the JPY. On the other hand, the Ichimoku GOC trading strategy still
suggests a (so far, very successful) short USD/JPY position initiated in
January.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.