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Forex Flash: USD/JPY upside momentum gone and waits for Japan fiscal and monetary policy - Commerzbank
FXstreet.com (Barcelona) - As the USD/JPY upside mometum is gone, Commerzbank analysts say that investors will have to wait and see what fiscal and monetary policy measures will be implemented by the new Japanese government: “That will be decisive in determining whether it was correct to price in JPY negative factors”, wrote analyst Ulrich Leuchtmann, seeing no scope to the downside in the USD/JPY either.
JPY shorts-supportive comments by Minister Akira Amani and BoJ board member Takehiro Sato had visible but limited impact. “Our advice for investors with a medium-term horizon remains: be patient, we might see further JPY weakness”, Leuchtmann concluded.
