USD/JPY to trade at 145.00 in the end of the year – Rabobank
|So far, February has been a choppy period for USD/JPY. Having rallied since the start of the year, the Japanese Yen (JPY) succumbed to profit taking earlier this month only to rebound in recent sessions, Rabobank's FX analyst Jane Foley notes.
USD/JPY is on course to the December low in the 148.65 area
"Yesterday USD/JPY pushed lower, encouraged by the release of the better-than-expected Q4 Japanese GDP report. That said, as the month’s low around the 151.00 level neared, JPY bulls lost their nerve this morning and the currency pair ticked higher. In our view the JPY is likely to continue gaining ground in the coming months."
"We retain a year-end target of USD/JPY145.00 with downside risk. The JPY is the best performing G10 currency in the year to date. A clear break below the USD/JPY151 level could put the currency pair on course to the December low in the 148.65 area."
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.