USD/JPY: To remain around 107.00 in the short-term - Rabobank

Analysts from Rabobank see the USD/JPY pair holding close to 107 on a 3-month view.

Key Quotes: 

“Although the JPY has been lifted by speculation that the BoJ could be starting to consider its exit from its huge QQE programme, a significant part of the unit’s firmer tone this year is a consequence of its safe haven status.”

“Unsurprisingly concerns about a trade war between the US and China have supported the JPY. That said, demand for safe havens has been partly offset by a thawing of tension on the Korean peninsula as well as news that several countries had negotiated exemptions from the US’s tariffs on steel and aluminium. Developments regarding trade are likely to continue driving the JPY.”

Forecast USD/JPY:  3m - 107.00, 6m - 109.00,  9m - 110.00, 12m - 110.00, 15m - 112.00,  18m - 115.00,  21m - 115.00,  24m - 118.00.