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USD/JPY: 115.50 upside target - BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Analysts at Bank of Tokyo Mitsubishi explained that the USD/JPY is higher following the release of revised US economic data.

    Key Quotes:

    "But topside remains heavy because market participants are still not confident about the Fed and BoJ’s next moves.

    Next week’s ECB meeting may not affect USD/JPY as much as it did in December, though EUR/JPY did rise then.

    The upper bound for USD/JPY around 115.50 ahead of the BoJ and Fed meetings may be supported by Japanese exporters.

    The ECB decision may boost market expectations for more easing by the BoJ. However more easing could weaken market confidence, just as the January decision did.

    BoJ Governor Kuroda will have to clarify how he intends to encourage Japanese companies to make more capital outlays. In our view, the BoJ will not ease further this month."
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