What is the outlook for USD/JPY for the year-end?
Here is their view, courtesy of eFXdata:
Bank of America Global Research maintains its USD/JPY year-end target around 103.
“USD/JPY is about to enter a critical 100-103 zone with 103 being our 4Q20 target as potential heightened social and political tension around the US election may be underpriced,” BofA notes.
“We maintain our view that USD/JPY would be supported by a strong floor in the 100-103 range, while cross-yen would be more vulnerable to the downside in case of a contested election result,” BofA adds.
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