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Weak Yen lifts USD/JPY above 115 level - BTMU

FXStreet (Barcelona) - Lee Hardman, Currency Analyst at Global Markets Research Bank of Tokyo-Mitsubishi UFJ, sees the weakening Yen lifting USD/JPY above 115 level in the Asian trading session.

Key Quotes

“Yen weakness has been broad-based since the announcements earlier this month that the BoJ will accelerate already aggressive monetary easing and that the GPIF will more actively diversify its portfolio allocation into higher risk assets.”

“As a result the BoJ’s measure of the nominal trade-weighted yen has declined by a further 4% in November to date leaving it only around 6% above the pre-global financial crisis low from mid-2007.”

USD/JPY could correct to 114 - FXStreet

Omkar Godbole, FXStreet Analyst comments that the USD/JPY pair finished higher at 114.84, after having bounced off from the support level located at 114.00 levels.
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