JP Morgan raises USD/JPY forecast to 105 for 2017-end

Dhwani Mehta FXStreet

In a latest note published on Monday via Bloomberg, the analysts at JP Morgan raised its USD/JPY price-forecast for year end to 105 from 99 previous.

Key Reasons behind the upgrade:

Better relations between the US and Japan & prospect of aggressive Fed tightening (JPM expect 3 Fed rates this year)

Key Quotes:

"Recent developments suggest that the U.S. administration continues to see the trade deficit as a problem and is seeking to redress the trade imbalance through bilateral negotiations."

"The market's focus will likely shift to politics after the FOMC and concern about U.S. protectionism will weigh on the dollar again, as we saw earlier this year."

1. R3 115.09
2. R2 114.99
3. R1 114.89
PP 114.79
1. S1 114.68
2. S2 114.58
3. S3 114.48

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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