Barclays: buy USD/JPY
Analysts at Barclays recommend buying USD/JPY as the pair remains supported by the the Fed’s and BoJ’s monetary policy divergence. However, in the medium term the pace of JPY depreciation may slow as the BoJ moves to a more reactive phase of monetary policy-making.
Trade strategy: long USD/JPY from 102.10 with a target of 105 and a stop at 101.30
In our view, this is a rational trade idea.
Chart. Daily USD/JPY