BNPP expects JPY to decline
Strategists at BNP Paribas favour USD/JPY and AUD/JPY to move higher.
They maintain their long AUD/JPY position from 91.90 targeting 96.00 and with a stop at 89.95.
Chart. Weekly AUD/JPY
As for USD/JPY, analysts expect the pair to jump above 100.00 in the nearest furture. They point that since September 13 the trend move higher in the Nikkei 225 Index has not been matched by USD/JPY. "The gap is inconsistent and signals USDJPY rise", analysts say.