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7 Feb 2013
Forex Flash: USD/JPY year-end target at 95.00 – Scotiabank
The Japanese yen seems to have found intraday support in the boundaries of 93.10 on Thursday, after the ECB has ignited a rally in the safe havens, dragging the cross from levels around 93.70
“The upward trend in USDJPY is too strong to fight and tied into equities. Technicals are not providing any warning signals that the trend is at risk. We hold a year-end USDJPY target of 95, but expect that it could temporarily range as high as 100 before drifting back”, assessed Camilla Sutton, Chief Currency Strategist at Scotiabank.
“The upward trend in USDJPY is too strong to fight and tied into equities. Technicals are not providing any warning signals that the trend is at risk. We hold a year-end USDJPY target of 95, but expect that it could temporarily range as high as 100 before drifting back”, assessed Camilla Sutton, Chief Currency Strategist at Scotiabank.