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Feb 04 - 11:00 AM

USD/JPY: Upside Limited N-Term; Targeting 108 In Q1 Ahead Of Further Gradual Decline - MUFG

By eFXdata  —  Feb 04 - 09:20 AM

MUFG Research discusses USD/JPY outlook and sees a limited scope for USD/JPY upside around current levels. MUFG targets USD/JPY at 108, 107, 106, and 105 in Q1, Q2, Q3, and Q4. 

"We recently saw some potential for upside risks over the short-term for USD/JPY but the window for that is unlikely to last much longer," MUFG notes. 

"The Fed is signalling a more dovish stance which will limit the upside potential for USD/JPY. Japan’s current account surplus will remain a key support going forward," MUFG adds. 

Source:
MUFG Research/Market Commentary

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