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- USD/JPY to extend its rally beyond 145 towards 150 – Barclays
USD/JPY to extend its rally beyond 145 towards 150 – Barclays
Economists at Barclays Research expect the USD/JPY pair to continue its race higher. Next target aligns at 145 ahead of 150.
Continuing to resist the notion of joint intervention
“Although actual intervention could bring a substantial correction in light of recently mounting volatility and liquidity conditions, we believe it would be unlikely to spur a major directional change with the US continuing to resist the notion of joint intervention and US-Japan monetary policy divergence, the driver of the USD/JPY’s rise, remaining intact.”
“The market will be watching 144.99 (last week’s high) and 145 (psychological threshold), but we do not see any clear technical levels beyond that until resistance sets in at 147.70 (1998 high) and 150 (psychological threshold).”
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