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Forex Flash: USD/JPY could fall to 90.00 in 3m – Rabobank

The Japanese yen is resuming its appreciation against its rivals on Thursday, as risk aversion is propping up the demand for the safe havens.
The recent appointment of H.Kuroda to command the BoJ guarantees that the easing cycle would continue in the Japanese economy, although at the moment the increasing risk-off tone is playing against further yen depreciation.

“Over the next few months there is risk of more bad news from Italy, Spain or even Cyprus or perhaps from the lack of progress in US budget talks. However, it is likely that the depth of corrective activity in the markets will be limited by the support that is on offer from the central banks. We have pencilled in a retracement back to the USD/JPY90.00 area on a 3 mth view”, commented Jane Foley, Chief Currency Strategist at Rabobank.

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