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USD/JPY: stuck in familiar ranges - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that USD/JPY risk is centered on the outlook for relative policy as market participants consider the prospect of a normalizing Fed in contrast to an accommodative BoJ.

Key Quotes:

"We maintain a bias to weakness and look to USD/JPY gains into year end with a Q415 forecast of 125 and a Q416 forecast of 131. USD/JPY faces ongoing vulnerability to turbulence in the broader market tone, however we note that these periods tend to be short-lived and highlight that options prices continue to favor protection against upside risk in USD/JPY."

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