6 Mar 2015
USD/JPY neutral bias for the week ahead – BTMU
FXStreet (Barcelona) - The Research Team at Bank of Tokyo-Mitsubishi UFJ, maintains a neutral outlook for USD/JPY for the week ahead, expecting the pair to remain in the 117.50-121.50 range.
Key Quotes
“The key driver for USDJPY in the week ahead will of course be the upcoming non-farm payroll report tomorrow. A stronger than expected non-farm payroll headline coupled with evidence of increased wage pressures would likely fuel renewed USDJPY buying.”
“In that scenario, market participants would become increasingly confident in the view that the FOMC would remove “patient” from the statement, signaling the potential for a rate hike in June.”
“Even if the data is stronger, the anticipation of a rate increase might increase risk aversion and undermine global equity markets which would certainly limit the upside for USD/JPY.”
“USD/JPY – Neutral Bias – (117.50-121.50)”
Key Quotes
“The key driver for USDJPY in the week ahead will of course be the upcoming non-farm payroll report tomorrow. A stronger than expected non-farm payroll headline coupled with evidence of increased wage pressures would likely fuel renewed USDJPY buying.”
“In that scenario, market participants would become increasingly confident in the view that the FOMC would remove “patient” from the statement, signaling the potential for a rate hike in June.”
“Even if the data is stronger, the anticipation of a rate increase might increase risk aversion and undermine global equity markets which would certainly limit the upside for USD/JPY.”
“USD/JPY – Neutral Bias – (117.50-121.50)”