This is via the folks at eFX.
For
bank trade ideas, check
out eFX Plus.
For a limited time, get a 7 day free trial, basic for $79 per month
and premium at $109 per month. Get
it here.
- “We instigated this trade idea last week following the failure of EUR/USD to maintain levels above 1.1000 and given the ongoing resilience of US yields as US economic data continues to show limited signs of a slowdown or recession. Nothing has changed this week to justify closing this position and we see a continued gradual move lower”
MUFG is targeting a move towards 1.0770, with a stop at 1.1160
—
Mitsubishi UFJ Financial Group is the world’s second-largest bank holding company and second-largest public company in Japan.