FXstreet.com (San Francisco) - USD/JPY is on the verge of finishing practically unchanged from yesterday’s close as it consolidates recent gains beneath 80.00, fueled by expectations of new easing from the Bank of Japan next week. “We expect the BoJ to shift its forecasts and increase its asset purchases at the October 30 meeting,” says Eric Theoret, Currency Strategist at Scotiabank. “We hold a year end USDJPY target of 80 and a Q413 of 87.” USD/JPY last trades at 79.85 vs. 79.93 late Monday; if the pair closes NY at the current price, the 8-session win streak will have come to an end.
Forex Flash: 2013 year-end USD/JPY target of 87 held - Scotiabank
Tue, Oct 23 2012, 19:40 GMT | FXstreet.com
USD/JPY May 24 at 02:18 GMT
102.25/29 (0.25%)
H102.60 L 101.88
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
