USD/JPY: BTMU switching back to a short position in the short-term

BTMU is going short again on the USD/JPY on the forex and it anticipates a range of 113.00-116.00 in the short term.

"Market expectations for fiscal stimulus in the United States have declined and US rates have declined following the speeches of the outgoing President and the President-elect. That has pushed the USD/JPY back down to 114.

Japanese investors have started their usual seasonal cash repatriation. Japan recorded trade and current account surpluses, which could influence the direction of the USD/JPY, towards 116.

But the US-Japan rate spread could theoretically slow down the decline to a range between 113-114."