- Entry:109.11, Target: 104.00, Stop: 110.70 (Medium-Term)MACRO - MEDIUM-TERM — Latest Rationale Data in this trade have been derived from a shortposition promoted byResearch."The time has come for us to re-enter our structural,longer-termshort position."JPY longs should benetand outperform CHF, given thatthe structure of income balances suggests a higher risk sensitivity of Japanese foreign investments relative toSwiss investments abroad,"argues.