Goldman Sachs: Looking for opportunities to engage in USD/JPY longs but just not yet ...Middle East

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Goldman Sachs: Looking for opportunities to engage in USD/JPY longs but just not yet
Synopsis:Goldman Sachs analyzes the recent sharp decline in USD/JPY and outlines a cautious approach to reengaging in long positions, anticipating potential stabilization around the 150 level.Key Points:Recent USD/JPY Movement:Decline: USD/JPY has dropped nearly 10 big figures from its early July peak of almost 162.Factors: A combination of JPY-positive factors has driven this significant move.Current Outlook:Avoiding Longs for Now: Despite the recent sharp decline, Goldman Sachs advises against taking long positions immediately.Support Level: The firm expects USD/JPY to continue moving back to the 150 level.Factors Limiting JPY Appreciation:US Recession Risk: Sustained JPY appreciation seem

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