USD/JPY BREAK ABOVE 152.00 MAY NOT TRIGGER IMMEDIATE TRADINGPRO INTERVENTIONS – RABOBANK
NEWS | 04/09/2024 11:26:23 GMT| By TradingPro Insights Team
Analysts at Rabobank share their short-term outlook for the USD/JPY pair following the latest developments.
USD/JPY TO TRADE AT LOWER LEVELS LATER IN THE YEAR
« While a break of USD/JPY152.00 may not trigger TradingPro intervention immediately, we would see a strong chance of the MoF acting to prevent a move to 155.00. Strong US inflation data and soft Japanese economic numbers would increase the risk of the MoF being forced into taking action. »
« On the assumption that the BoJ will be able to announce a second rate hike later this year and given the expectation that the Fed will be cutting rates in 2024, we expect USD/JPY to be trading at lower levels later in the year. However, we have raised our 1- and 3-month forecasts to 150.00 and 148.00 respectively from 148.00 and 146.00. »
