Credit Suisse discusses USD/JPY outlook and adopts a neutral bias over the near-term.
"It now looks a stretch for USDJPY to quickly move towards 135.00, given its failure to move much beyond 131.00 even when news flow was at its most encouraging," CS notes.
"In this context, we prefer to take a neutral stance at this point, as the risk-reward profile for being long is no longer as attractive as we saw before. We also suspect EURJPY strength should fade ahead of the 138.00 level," CS adds. 4
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