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Sep 13 - 12:55 PM

USD/JPY: The US Continues To Resist The Notion Of Joint Intervention; Targeting 145 Ahead Of 150 - Barclays

By eFXdata  —  Sep 13 - 11:12 AM

Barclays Research discusses USD/JPY outlook and the scope for JPY intervention.

"Although actual intervention could bring a substantial correction in light of recently mounting volatility and liquidity conditions, we believe it would be unlikely to spur a major directional change with the US continuing to resist the notion of joint intervention and US-Japan monetary policy divergence, the driver of the USDJPY’s rise, remaining intact," Barclays notes.

"The market will be watching 144.99 (last week’s high) and 145 (psychological threshold), but we do not see any clear technical levels beyond that until resistance sets in at 147.7 (1998 high) and 150 (psychological threshold)," Barclays adds. 

Source:
Barclays Research/Market Commentary

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