USD/JPY will be trading a lot lower by the end of the year – ING
ING’s year-discontinue target for USD/JPY now sits at 120.
137/140 would possibly well gentle be most efficient phases for a while
“USD/JPY continues to frustrate greenback bears equivalent to ourselves. Neither has the risk atmosphere deteriorated enough nor has US disinflation been tough enough to ship USD/JPY sharply lower. On the opposite hand, the US credit ranking crunch makes a recession there more likely, and we luxuriate in a conviction call that USD/JPY will be shopping and selling lots lower by the discontinue of the year.”
“137/140 could be the finest phases for the subsequent two to three years.”
Source: Refinitiv, Macrobond, ING
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