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RBS: JPY may rise over the weekend

"It has been months that USD/JPY has been consolidating and eventually this monetary easing is likely to start to weaken the JPY again", RBS strategists say. "USD/JPY is trading in a narrowing wedge, and a break above that wedge is likely to drag in fresh buying".

However, analysts recommend being very careful with USD/JPY longs ahead of the weekend: the risk of a Syria strike this weekend makes buying USD/JPY a dangerous deal. 

 

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