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MUFG trade of the week: Stay short USD/JPY, sell USD/CAD

MUFG Research maintains a short USD/JPY exposure (spot ref: 134:70) in its TOTW portfolio with a target at 129.00, and a stop at 138.50. "We are maintaining a short USD/JPY trade idea. While there are risks of further increases in US short-term yields, we doubt USD/JPY will gain to the same extent of traction and see risks of the move higher petering out," MUFG notes. MUFG also added a fresh short USD/CAD position (spot ref: 1.3375), with a target at 1.2950, and a stop at 1.3650. "We're adding... Read More

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Posted: Apr 15 2023, 22:13

Author Name: forexlive

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