[B]My picks:[/B] Buy USD/JPY at 95.75
[B]Expertise:[/B] Global Macro
[B]Average Time Frame of Trades:[/B] 1 week
Japan’s gross domestic product shrank an annualized 15.2%, the worst performance since 1955, the Japanese government said earlier. This is a clear example that most of these recent gains in Asian stocks might be speculative driven and we possibly will see a sharp correction on riskier assets if core economic indicators like the GDP don’t show an improvement. That said, I will continue to look for opportunities to sell rallies on export dependent currencies like the Japanese yen.