Sumitomo Mitsui Trust Bank wary on further upside for USD/JPY from here
- vulnerable to sell-the-fact response to the phase 1 signing
- Say the agreement was priced in
- Uncertainties now over future second-phase negotiations - when will they begin
- Uncertainty also over actulz implementation of P1 agreement
Nominate levels:
- resistance around 110 (real money offers)
- support around 108, and if that gives way downside to 106 or 107 if trade negotiations from her stumble