USD/JPY Long to Y103 post NFP on US Dollar/10yr Yield Strength
Price Action post NFP suggest the USD/JPY still has some topside catch up to play with the US 10 yr Treasury Yield and the gaining USD Dollar Index.
With Stocks still strong and carry trade back on the cards, the USD/JPY should do well from AUD/JPY and GBP/JPY buying.
EUR/USD selling is still a real possibility with the USD strength from this also supporting. A EUR/USD reversal however is see helping EUR/JPY more than hurting USD/JPY directly.
Great Risk Reward Here 12 pips for 38 pip gain.
With Stocks still strong and carry trade back on the cards, the USD/JPY should do well from AUD/JPY and GBP/JPY buying.
EUR/USD selling is still a real possibility with the USD strength from this also supporting. A EUR/USD reversal however is see helping EUR/JPY more than hurting USD/JPY directly.
Great Risk Reward Here 12 pips for 38 pip gain.