Morgan Stanley made a fundamental forecasl for this week related to JPY - they estimated for USD/JPY to be on bullish market condition:
- "Despite the current risk environment, we would expect JPY to be
supported. The risk to our view this week is obviously the BoJ meeting.
Here the central bank will revise forecasts and many in the market
expect further monetary accommodation."
- "We however note that recent comments from BoJ officials have played down the prospect of further easing measures at this stage. The CPI ex-fresh food and energy daily UTokyo CPI measure has been looking up recently."
From the technical points of view -
this pair is on bullish market condition: the price is located above 100 period SMA and 200 period SMA for trying to break 122.02 resistance level together with symmetric triangle pattern for the bullish trend to be continuing.
