The yen is ready to rally, says Saxo Bank’s John Hardy

Last week the Japanese Yen (JPY) rallied significantly against the major European currencies and still looks very resilient against the USD. John Hardy, Head of FX Strategy of Saxo Bank, says there’s rising potential for the JPY. While the JPY could either remain stable against the USD or even beat it back, elsewhere the JPY looks ready to rally further. In Hardy’s view, AUDJPY is an interesting alternative as the AUD upside may be overdone, while the GBPJPY and EURJPY look like compelling shorts. To read more, visit: (VIEW LINK)