SocGen: USD/JPY capped at 110.50
According to analysts at Societe Generale, USD/JPY will likely hit 110.50 in the very near future. However, it’s not a case for a sharper move upwards, analysts say. Japanese authorities need a competitive currency, not a currency crash.
Strategists expect the pair to consolidate in a new trading range centered on the current levels for a considerable time period. USD/JPY is trading around 108.80 as we write.