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    USD/JPY could re-visit 105.00 in 1-month – Danske Bank Pablo Piovano

    The Japanese Yen could lose ground towards the 105.00 area vs. its American counterpart in a month’s view, according to analysts at Danske Bank.Key Quotes“We are lowering our USD/JPY forecasts to 105 in 1M (108 previously), 107 in 3M (112), 108 in 6M (112) and 108 in 12M (112)”.“Brexit and our call that the Fed will now be on hold for the rest of 2016 imply that there is less room for USD/JPY to move higher”.“We continue to expect that BoJ will ease aggressively in July by cutting interest rates by 20bp and to announce additional quantitative easing”.“In addition, the risks of FX intervention are increasing. Hence, we expect USD/JPY to edge higher on 0-3M and stabilise medium-term”.


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