Sforex
Long

USDJPY: Higer borrowed cost is not a big deal

FX:USDJPY   U.S. Dollar / Japanese Yen
159 0 1
USDJPY             is captured between two ranges:
- Range 120 - 119.70
- The wedge pattern
The main reason why USDJPY             cann't rally while other pairs go up is that:
- Investors still sell stock and hesitate in buying it.
The fear that FED would hike rate leading to higher borrowed cost make investors worry to continue buy equity.
However, I don't think higher borrowed cost is a big problem.
If FED hike rate by 1% : That is a big deal, but 25bp is not a big deal.
As US economy still perform very well , and buy stock is a good choice.
Hence, I think USDJPY             quickly backs to the uptrend.


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