Play EUR/NOK and USD/JPY only through options – DB

FXStreet (Barcelona) - According to Oliver Harvey, Macro Strategist at Deutsche Bank, any topside exposure should be held in options for the EUR/NOK and USD/JPY pairs, as they appear to be highly stretched.

Key Quotes

“EUR/NOK and USD/JPY are the next best currency pairs from technical point of view. Both EUR/NOK and USD/JPY are highly trending and breaking new ground. They are highly stretched from an RSI perspective, but less so from an RR perspective, suggesting any further topside exposure should be held in options rather than cash.”