Comments on the yen from Barclays in Tokyo (via Bloomberg)
- "There is limited scope for the yen to weaken further given the current valuation
- We are expecting the yen to be range-bound'
Barclays forecasts USD/JPY will end 2015 at 123 (median forecast among analysts surveyed by Bloomberg is at 125)
Traders are wary now of "the Kuroda line" of about 125 in USD/JPY ... this is where it was on June 10 when the BOJ Governor Kuroda said he couldn't see it depreciating much more when adjusted for inflation and trade
