Buy USDJPY at 95.60

[B]My picks:[/B] Buy USDJPY at 95.60
[B]Expertise:[/B] Global Macro
[B]Average Time Frame of Trades:[/B] 1 week

Quantitative easing and a record high budget deficit continue to weight on the US dollar. However, those are old news and I think we will see a change in investor’s sentiment towards the US dollar over the coming days. That said, today I suggest going long $USDJPY until 5:01 PM ET to capture the usual short-covering ahead of this Wednesday triple interest rate rollover.