USD/JPY: Real Flows To Support JPY Rally Into The First Week Of April - BTMU

Many Japanese investors will likely sell foreign assets at the beginning of FY16 to realize gains but such active cross border flows may not support USD/JPY, as many such investors have not determined their investing strategies for FY16 yet, notes BTMU.

"They may take just enough gains the first week of April before making their next steps. After that, USD/JPY will likely stay calm.

...USD/JPY may decline because of lingering JPY repatriation by Japanese exporters and investors. Real flows may still support a JPY rally," BTMU argues. 

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