New 110-115 range for USD/JPY targetted
Mizuho in Tokyo comments on the yen (via Bloomberg)
Trading range for USD/JPY seems to be gradually shifting upward
- to 110-115
- from 105-110
Easing uncertainty on the U.S.-China trade war and also on Brexit are two major risks dialling back.
Later in the year though gains may be topped out
- U.S. presidential election wariness
- cyclical expansion improves
In the nearer term, wariness over US stocks retracing - analysts at Mizuho note that Feb 2018 saw this after re ord highs hit in January.