💹USD/JPY Prone to Extend Gains After Japanese End Of FY: Cable FX Macro

• This post notes previous performance of USD/JPY rate heading into and after end of Japanese fiscal year. We will not continue without reminding you that this is an average, and the past is not indicative of future results. Always read seasonality as a complement to your outlook

• Dollar-yen tends to rise heading into the end of Japanese fiscal year, of course, this is tricky period to trade given that we go through quarter end

• Looking back to 2017, the USD/JPY gains about 0.8 percentage points 15-day prior to April 1st. After this period, it tends to extend gains further, the cross sees gains of 1.0% on average