USD/JPY outlook - risk is below 105

Author: Eamonn Sheridan | Category: News

Westpac look ahead for currencies have this on the yen. Given the rally in USD/JPY its worth checking out for risk ahead.

In brief
  • USD/JPY near the top of the past month's ranges,
  • US yields are barely higher
  • US data not supportive
  • dramatic … slump in the ISM manufacturing index to below 50
  • but other releases have been little better
  • should keep markets preparing for -25bp from the Fed on 18 Sep and a clearly dovish tone. The BoJ and MoF meanwhile have not indicated any policy change is looming. Considerable bad news is arguably priced into USD/JPY but multi-week risks remain below 105
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Daily USD/JPY 
Westpac look ahead for currencies have this on the yen. Given the rally in USD/JPY its worth checking out for risk ahead.

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