USD/JPY to test 150 by Q1 2023 before peaking out – BofA
|The USD/JPY pair is set to hit the 150 level, according to economists at Bank of America who maintain a bullish bias through the first quarter of next year.
USD/JPY to correct on the Fed’s rate cuts later into 1H24
“USD/JPY rally may slow down as the Japanese government attempts to cap USD/JPY’s upside but the market would buy USD/JPY’s dip. Carry trades are likely to weigh over JPY if the market comes to realization that the Fed is expected to hold for some time.”
“USD/JPY is likely to test 150 by 1Q23 before peaking out on a US recession concern first in the middle of 2023 and correcting on the Fed’s rate cuts later into 1H24.”
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.