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USD/JPY: Room For Further Gains; Where To Target? – Danske

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What is the outlook for USD/JPY over the next 3 months and 6 months?

Here is their view, courtesy of eFXdata:

Danske Research discusses USD/JPY outlook and targets the pair at 110 in 3-months, and 111 in 6-months.

We think USD/JPY has further to go, as the US economy will catch up to Asia as it opens up and outpaces Asia and particularly Japan in the vaccine race, although the recent leap has capped upside potential.

“This will continue to press for higher US yields and BoJ will remain reluctant to let JGB yields drift much higher with inflation so far off target,” Danske notes.

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