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BK USD/JPY Big Trade +78
Close USDJPY at market 123.49 currently for 77 on the trade
BK USD/JPY Big Trade -- First Entry at 122.73 TRIGGERED
Place Order to Buy 1 lot USD/JPY at 122.73
Place Order to Buy 1 More at 121.27
Stop for all 119.60
The long dollar isn’t and we believe that this week’s economic reports will reinforce the US recovery story. While investors hoped that Yellen would have been more hawkish last week at the end of the day the message from the dot plot forecast and her press conference is clear – rates will rise this year. If labor data improves and inflation ticks higher, the Fed will even raise rates twice this year. So in an environment where the RBA, RBNZ and ECB are either easing or talking about doing so, the dollar remains attractive.