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Forex Flash: USD/JPY looks bullish ahead - BTMU

FXstreet.com (Barcelona) - Bank of Tokyo Mitsubishi UFJ analysts believe that USD/JPY looks bullish ahead and will move within a range between 98.50 and 102.00 during the week ahead.

They begin by noting that it may take to reach 100-level of USD/JPY, though the recent pace of JPY depreciation. However, they feel that the market expectation for JPY depreciation and real yen selling pressure were strong and once USD/JPY touching on 100, USD/JPY may move further upward over 101-level on Governor Kuroda's QQE. They write, “The upcoming economic indicators in the U.S. may weaken the dollar. The recent NFP report was below the market expectation. Though the coming U.S. indicators may not support yen selling, the yen may continue to depreciate largely.”

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