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1 Apr 2015
Long USD/JPY, target 125 – BNPP
FXStreet (Barcelona) - Robert McAdie, Global Markets Head of Research and Strategy at BNP Paribas, maintains a bullish outlook on USD/JPY, targeting 125 levels for the pair over a 6 month view.
Key Quotes
“Long USDJPY. We expect rising US front-end rates and Japanese investor outflows to support this pair in advance of a Q3 rate hike in the US.”
“Japanese MoF portfolio flow data report net outflows have reached an Abenomics-era high.”
“In contrast, the short JPY exposure is now at its lowest level since Abenomics started in late 2012.”
“Entry: 119.30. Target: 125. Stop: 117.5. Horizon: 6 months.”
Key Quotes
“Long USDJPY. We expect rising US front-end rates and Japanese investor outflows to support this pair in advance of a Q3 rate hike in the US.”
“Japanese MoF portfolio flow data report net outflows have reached an Abenomics-era high.”
“In contrast, the short JPY exposure is now at its lowest level since Abenomics started in late 2012.”
“Entry: 119.30. Target: 125. Stop: 117.5. Horizon: 6 months.”