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USD/JPY: Look for 115.00 to be tested and broken - Societe Generale

FXStreet (Guatemala) - Kit Juckes, Global Head of Currency Strategy at Societe Generale expects that USD/JPY 115.00 will be broken.

Key Quotes:

"It can't be Christmas (or November 3rd) every day. The yen's slide has been partly corrected even as the Nikkei soars on its post Culture Day re-opening. "Abenomics" has now almost doubled the value of the Nikkei in two years, while the yen has lost almost a third of its value."

"Only time will tell if these are foundations on which economic recovery can be built, but what is sure to be a legacy is the disinflationary forces unleashed by the BOJ on Japan's Asian neighbours. As for the yen, technical levels have been shattered, USD/JPY 115 is the next psychological barrier and after a brief respite, look for it to be tested and broken."

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