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Oct 15 - 06:55 PM

USD/JPY: Likely To Struggle To Trade Higher N-Term - NAB

By eFXdata  —  Oct 15 - 03:00 PM

NAB Research discusses USD/JPY outlook and targets the pair at 103 by year-end.

"Near term we note USD/JPY is biased lower when it trades below its 100day moving average and the recent move up in 10y UST yields has not resulted in a proportional rise in USD/JPY Risk assets are now entering a tricky period, Q3 US earnings reporting season has just begun, the US election is due in three weeks’ time and with no stimulus, the US economy is at risk of slowing down. Against this backdrop we think USD/JPY will struggle to trade higher," NAB notes. 

"The current reporting season is clouded by the lack of guidance provided by most companies at their previous (2Q) and as the US economic momentum fades, analysts will be on the lookout for signs of weaker earnings guidance in the period ahead," NAB adds. 

NAB Research/Market Commentary


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