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Forex Flash: USD/JPY year-end target at 105.00 – Scotiabank

FXstreet.com (Barcelona) - After climbing to fresh highs in the area of 102.80 (4 ½ years highs), the cross initiated a correction lower to the current region of 102.40/45, although the market is broadly framed within the bullish momentum in the USD.

In the opinion of Camilla Sutton, Strategist at Scotiabank, the recent upside in the cross is mostly due to the USD renewed strength, adding “For upside to continue (which we expect) we will likely have to see a broadly stronger USD combined with further evidence that investors are favouring moves outside Japan. We hold a year-end USDJPY target of 105.00”.

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