Trader, analyst and instructor with a 6-year experience

Large banks long on USD/JPY

With USD/JPY hitting the 103.00 mark this week, many traders decided to book their profits. As a result, USD/JPY dipped from the daily high of 103.40 to 102.50. 

Still, the large banks are still betting to see the pair at higher levels: 

Commerzbank recommends buying the pair on dips to 101.50 and with a stop at 99.55.

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