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23.05.2019 18:01

USD/JPY to push towards the 108.00 area in coming months - Rabobank

Jane Foley, senior FX strategist at Rabobank, points out that the best performing G10 currency on a 1 day view is the safe haven JPY followed by the CHF and the USD and a day which has the safe haven JPY at the top of the table and the AUD at the bottom sends a clear message about the levels of anxiety in the market.

“Traditionally the JPY and the CHF have been the FX market’s preferred safe haven currencies. The USD has traditionally had a more volatile relationship with the status of safe haven. Given growing recognition that that the current dispute between the US and China could be more cold war than trade war and on the back of growth tensions regarding Iran we see risk for USD/JPY to push towards the 108.00 area in the coming months.  That said, we expect the USD to outperform a wide basket of other currencies.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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