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November 08, 2017
The dollar is moderately soft across the board on the back of Washington Post headlines suggesting the GOP may delay tax cuts one year but we know Trump will push hard against this as his party needs at least one victory this calendar year. The prospect of easier monetary policy in Japan for the foreseeable future coupled with a hawkish Fed should eventually send USDJPY higher and the pair will likely remain a buy on dips starting at 113.25 near term support followed by 112.70. At least until mid-morning we may see USDJPY pinned around current levels as decent sized expiries lie between 113.50 and 113.75...

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