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Jon Steeler


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We certainly could. This is a pair that normally acts as a risk proxy. for example when risk is on the pair will rise and when risk is off it will fall.

Right now it seems that the risks in the environment are fading somewhat with the coronavirus seemingly not causing too much panic, so, in that case I would expect a rise in the UJ. 

When it comes to targets, I would look towards 109.60 initially before then looking towards the 110 level. Remember, if risks escalate anywhere in the market then you could see the pair drop further. but as of now we are heading towards a risk on environment.

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