Mizuho suggests unwinding short positions in the US dollar/Japanese yen, expecting the US dollar to rise further.

Rison Securities recommends closing out short positions on the US dollar against the Japanese yen, as it is expected that the real interest rates in the United States will remain relatively high in the coming months following progress in US-China trade negotiations. Rison predicts that the US dollar will continue its upward trend and break through 148.50 during European and American trading sessions; the negotiations have eased market speculation about a US interest rate cut. "Investors holding short positions on the US dollar against the Japanese yen are facing significant pressure, so closing out these positions and moving to a neutral position is a prudent move," said Rison Securities Chief Strategist Shoki Omori; he suggests that if the tariff negotiations continue to pose downside risks for the US dollar, investors should hedge through a USD/JPY risk reversal strategy rather than directly shorting.