Analysts: comments on USD/JPY
Analysts at Credit Suisse expect USD/JPY to continue the uptrend. “Dollar-yen has been one of our core long trades,” analysts explain. “We’ve been bearish the Japanese story for a while.” Strategists recommend buying USD/JPY on a break above 105.20 with an initial target of 105.60. The next target is seen at 106.00.
Meanwhile, analysts at BBH warn that the weakness of the yen is becoming a cause of concern. They expect this question to arise on the next G20 meeting on February 21. According to BBH, in the medium term we'll see a pretty deep bearish correction in USD/JPY.
Chart. Daily USD/JPY