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- USD/JPY: 'We continue to see 110 as short-term ceiling' - Danske
USD/JPY: 'We continue to see 110 as short-term ceiling' - Danske
eFXdata reports that Danske Research discusses USD/JPY outlook and maintains a neutral bias in the near-term.
"USD/JPY have been thrown back and forth by moves in global risk aversion, commodities and domestic fiscal response on the one side (stronger JPY), but also a very weak domestic economy and recently a global stabilisation in risk sentiment (weaker JPY). Looking ahead, H2 20 continues to be the time when USD/JPY could move slightly higher as we expect an economic rebound in Q4," Danske notes.
"We continue to expect 112 in 6M and 12M (unchanged), which still reflects our view of a strong USD. EUR/JPY has started to struggle in recent month(s), driven primarily on the back of a declining EUR. This may indeed continue to be the case in the coming months. Near term, we see USD/JPY as trading in 107-110 range," Danske adds.
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