USD/JPY a sell the fact on the trade deal signing – analyst says yes









































































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

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