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13 Apr 2015
USD/JPY Q2 target at 120 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, expects JPY to prove more contained than others for now versus the USD, maintaining a Q2 target at 120 and year-end target at 125.
Key Quotes
“JPY is weak, reacting to broad USD strength. Data today was not the driver, with better than expected machine orders and stronger than expected PPI.”
“From a broader perspective, USDJPY continues to trade within its recent range, eventually we do expect it to rally to fresh highs, but for now it is likely more constrained than the other currencies.”
“We hold a Q2 target of 120 and a year‐end target of 125.”
Key Quotes
“JPY is weak, reacting to broad USD strength. Data today was not the driver, with better than expected machine orders and stronger than expected PPI.”
“From a broader perspective, USDJPY continues to trade within its recent range, eventually we do expect it to rally to fresh highs, but for now it is likely more constrained than the other currencies.”
“We hold a Q2 target of 120 and a year‐end target of 125.”