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Jul 13 - 12:55 PM

USD/JPY: Not Inclined To Change Our Call For USD/JPY To Test 142 Coming Weeks - Credit Suisse

By eFXdata  —  Jul 13 - 11:15 AM

Credit Suisse discusses USD/JPY outlook and maintains a bullish bias targeting a move towards 142 over the coming weeks.

"One view that we are not inclined to change yet is our call for USDJPY to test 142.00 in coming weeks. When we initially targeted this level, we were not expecting US yields to drop back as far as they have done in recent weeks. In that context, we are pleasantly surprised by how resilient USDJPY has proved to be despite that retracement," CS notes. 

"With our core logic for a bullish USDJPY view having been the expectation that the BOJ would hang tight with its current stance, we see no reason to shift position after these events gave new reasons to hold that view," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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