USD/JPY: Expect High Volatility Next Week: Range & Outlook - BTMU
USD/JPY could be fairly volatile ahead of the BoJ and FOMC meetings, says BTMU.
"The Fed may not raise the policy rate, and Chair Janet Yellen may also offer hints about the next policy move. The US economy may grow further, even under global deflationary pressure and uncertainty about China’s economy.
One risk may be Yellen’s hawkishness in communication. Such hawkishness could hurt global stock and commodity markets and weigh on USD/JPY.
JPY buying pressure from exporters may build further ahead of the end of the fiscal year. USD/JPY is increasingly likely to drop further at this stage," BTMU argues.
BTMU is neutral on USD/JPY at current levels seeing the pair trading in a 111.50-114.50 in the near-term.
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