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21 Jun 2013
Flash: USD/JPY looks bullish ahead - BTMU
FXstreet.com (Barcelona) - Bank of Tokyo Mitsubishi UFJ analysts feel that USD/JPY looks bullish ahead and is set to range between 96.00 and 101.00.
They see that next week, Bernanke's comment for QE tapering post-FOMC is likely to continue to impact equities, limiting USD/JPY's upside. However, they add that his comment also helped to remove the recent uncertainty surrounding the dollar. They write, “After some correction seen in equities, market expectation for yield gap widening looks to support dollar buying. The correction of USD/JPY next week may be volatile, with the pair going back up to the 100-level.”
They see that next week, Bernanke's comment for QE tapering post-FOMC is likely to continue to impact equities, limiting USD/JPY's upside. However, they add that his comment also helped to remove the recent uncertainty surrounding the dollar. They write, “After some correction seen in equities, market expectation for yield gap widening looks to support dollar buying. The correction of USD/JPY next week may be volatile, with the pair going back up to the 100-level.”