Analysts at Scotiabank explained that JPY entered November at the lower end of its 2017 range.
"JPY seasonals are bearish and speculative short positioning is extended.
Widening interest rate differentials are expected to deliver continued fundamental weakness for JPY.
We hold a relatively neutral USD/JPY year-end 2017 target of 112."
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 securities. 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 Forex 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.