USD / JPY: oversold; In the US this week’s data flow – BNP Paribas
US data stream this week should be supportive for the dollar this week, said BNP Paribas.
«Empire Manufacturing, is expected to increase to 11 Tuesday (consensus: 8.5) and IP data is likely to rise up to 0.7% m / m (consensus: 0.3%).
»USDJPY should be particularly sensitive to US data. Couple shows oversold relative to the exchange rate, which has been stable in the last days “
In accordance with this view, BNP supports the position of USD / JPY. Orientation 125.
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