Barclays recommending being long TRY/JPY
- The bank targeting 21.10
- stop loss 20.59
Citing:
- Hawkish tone from the Central Bank of the Republic of Turkey tone should support the lira
- TRY carry
- TRY/JPY outperforms during low, declining volatility periods
- Technical weakness of the yen (Barc pointing to USD/JPY)
- Mrs. Watanabe (shorthand for Japanese retail FX) rebuilding long TRY/JPY positions
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ps. Chart (4 hour candles)
