BTMU FX Strategy Research discusses USD/JPY outlook and maintains its neutral bias on the pair expecting it to trade in 112-115 range in the near-term.
"Many Japanese exporters are willing to cover their real JPY demand at the current level to avoid a year-end rush. Capital inflows from emerging economies have also been supporting JPY….
Many Japanese investors are once again showing confidence in Abenomics after the snap elections supported higher stock prices, but JPY significant real selling flows still have not appeared. Such flows could support a lower bound of around 112," BTMU argues.
Source: BTMU ResearchOriginal Article
