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2 Apr 2015
USD/JPY neutral bias into the week ahead – BTMU
FXStreet (Barcelona) - The Research team at Bank of Tokyo-Mitsubishi UFJ, maintains a neutral bias into the week ahead for USD/JPY, expecting the pair to maintain a 118.00-121.50 range.
Key Quotes
“The latest US economic data has been disappointing due to the February unseasonal climate and west coast labor disputes.”
“USDJPY has stayed within the narrow range. Upcoming non-farm payroll report may support USDJPY buying.”
“Still, as the recent delicate US stock and thin dollar liquidity may not support US dollar strengthening, the upper ceiling of USDJPY may possibly be limited at around the 121.00-level.”
“The March FOMC minutes, which essentially signaled a slower pace of Fed rate hikes may undermine the US dollar.”
“At the BoJ meeting on 7th-8th April, the MPC is unlikely to change its monetary policy stance.”
“USD/JPY – Neutral Bias – (118.00-121.50) “
Key Quotes
“The latest US economic data has been disappointing due to the February unseasonal climate and west coast labor disputes.”
“USDJPY has stayed within the narrow range. Upcoming non-farm payroll report may support USDJPY buying.”
“Still, as the recent delicate US stock and thin dollar liquidity may not support US dollar strengthening, the upper ceiling of USDJPY may possibly be limited at around the 121.00-level.”
“The March FOMC minutes, which essentially signaled a slower pace of Fed rate hikes may undermine the US dollar.”
“At the BoJ meeting on 7th-8th April, the MPC is unlikely to change its monetary policy stance.”
“USD/JPY – Neutral Bias – (118.00-121.50) “