TD Securities recommends Short CHF/JPY, target 136.0
Tradehay.com: 31/08/2022 - 07:59
TD Securities has just issued a recommendation on the CHF/JPY cross pair:
• We just added a short CHF/JPY short position to our FX trading portfolio by model
• Entry: 143.05
• Target: 136
• Stoploss: 147.25
TD's argument:
• CHF is currently the most overbought currency in the G10
• With the current 10-year US government bond yield, the reasonable price of CHF/JPY will be around 136.0
• MRSI's trading weights have strong CHF/JPY sell signals, reflecting the downtrend of CHF and JPY up. CHF is undervalued in terms of carry trade opportunities, stock market, growth, market position, and yield curve.
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