News

USD/JPY seen at 115.00 in 6-month – Danske Bank

Morten Helt, Senior Analyst at Danske Bank, sees spot gaining upside traction to the 115.00 region within the next 6 months.

Key Quotes

“The upcoming general election in Japan on 22 October should not have a significant impact on USD/JPY if Shinzo Abe maintains his majority in the Diet following the election, as this is widely expected and priced in the FX market. However, we still see USD/JPY moving higher in coming months supported by strong global PMIs and a potential Fed rate hike in December. We target the cross at 113 in 1M (previously 111) and 114 in 3M”.

“Fundamentally, we still see a case for a higher USD/JPY over the medium-term horizon, driven by Fed-BoJ divergence, higher global yields (eventually) supported by global growth recovery and portfolio outflow out of Japan. We target USD/JPY at 115 in 6M and 116 in 12M”.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.