Back
15 Jan 2015
USD/JPY near-term weak but long-term bullish – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, anticipates USD/JPY to head towards 126 by 2015-end, but notes that the near-term risks suggest a move lower.
Key Quotes
“USDJPY continues to dip lower with technicals warning of a test down to the December low of 115.57. Governor Kuroda highlighted in today’s speech that the central bank will adjust policy as need in order to meet its inflation target. There is building expectation that the forecasts will be adjusted at the January 20th meeting and today’s failure to comment on inflation views has driven further expectations. The near‐term risk for USDJPY is a test lower; but ultimately we would expect
USDJPY to trend higher, closing the year at 126.”
Key Quotes
“USDJPY continues to dip lower with technicals warning of a test down to the December low of 115.57. Governor Kuroda highlighted in today’s speech that the central bank will adjust policy as need in order to meet its inflation target. There is building expectation that the forecasts will be adjusted at the January 20th meeting and today’s failure to comment on inflation views has driven further expectations. The near‐term risk for USDJPY is a test lower; but ultimately we would expect
USDJPY to trend higher, closing the year at 126.”