Traders buying Call options on USD / JPY are increasing every day, with Westpac Banking Corp and National Australia Bank expecting the pair to reach 113.00 by the end of the day. The reason for this is that BoJ remains with the intention not to change its monetary policy until the Fed tightens its own, and the ECB is considering doing so in the near future.
There are two factors that are expected to affect the yen in the near future and these are the geopolitical tensions of the Korean peninsula and the work of the US administration. In case of a tension escalation or problems in the Trump administration, the yen as a safe haven instrument tends to rise and positive scenarios for USD / JPY may be spoiled or at least delayed.
Here's what the big banks expect for the currency pair in the coming months:
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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