MUFG trade of the week: Stay long EUR/USD and short USD/JPY | Forexlive

MUFG Research maintains a long EUR/USD and a short USD/JPY exposure in its ToTW portfolio. The short USD/JPY trade suffered today longs after the Bank of Japan left policy unchanged.

MUFG is long EUR/USD from 1.0950, targeting a move towards 1.1350, with a
stop at 1.0750. It last traded at 1.1016.

MUFG is also short USD/JPY from 134.70, with a target
at 129.00, and a stop at 138.50. It last traded at 136.24.

“We are maintaining our long EUR/USD trade idea and our short USD/JPY
trade idea despite today’s large post-Boj rebound,” MUFG notes.

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