Anyone else think EUR/JPY can go to 130+
I just popped in to see a hedge fund this afternoon on beautiful Sydney harbour and this is what he is looking at (I hope he doesn’t mind me sharing!). He expects the longer-term EUR/JPY downtrend to reverse sharply sometime in the next few months on a break back above 108 approximately, which will take us back to at least 133. Quite a strong view and remember that most hedge funds (it’s a fairly small global community) know each other and talk with each other consistently, so they often have the very similar views/positions. It’s one thing to have a strong view and another thing entirely to trade it properly, but it’s good to know how some of the big speculators are thinking.