USDJPY to keep falling until the BOJ responds with "overwhelming force".

That's the reasoning from Goldies analyst Robin Brooks.

  • Maintains the structural view that the USDJPY trend will be reversed

  • USD will head higher despite short-term declines

  • Analysts says BOJ would need to switch their emphasis back to balance sheet building to signal that it's not done with QQE

  • Doing so would be the trigger for USDJPY to move back to 120.00

  • BOJ calling an emergency meeting could become necessary if JPY appreciations gets out of hand

Goldies have their USD buttons stuck bullish mode for several years now. 1000/2000 pip moves in either direction is water off a ducks back to them, there's always a reason why it's going higher.