<p> MUFG Research closed out a previous short on EUR/USD from 1.0290 and is now taking its USD exposure into a long USD/JPY trade from 140.00. They target 146.00 with a stop at 136.50.</p><p>“We are recommending a new long USD/JPY trade idea… We believe there is room for USD/JPY to extend its advance in the coming weeks on the back of the hawkish repricing of Fed rate hike expectations,“ MUFG notes.</p><p>“We are more confident now that the Fed will deliver another large 75bps hike in September and keep raising rates closer towards 4.00% by early next year as it seeks to front-load tigtening in response to upside inflation risks,“ MUFG adds.</p><p>For bank trade ideas, <a target=“_blank“ href=“https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD“ rel=“nofollow“ target=“_blank“ data-saferedirecturl=“https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&source=gmail&ust=1662297440616000&usg=AOvVaw3fTHb6r5d3IhJcwv1v5lk1″>check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a target=“_blank“ href=“https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD“ rel=“nofollow“ target=“_blank“ data-saferedirecturl=“https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&source=gmail&ust=1662297440616000&usg=AOvVaw3fTHb6r5d3IhJcwv1v5lk1″>Get it here</a>.

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This article was written by Adam Button at www.forexlive.com.