USD/JPY breaks out of the range opening the door for new highs. Next stop at 162.00?
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Morgan Stanley | Bullish | 140.00 |
UOB | Bearish | 159.80 |
ING | Bullish | 152.00 |
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FUNDAMENTAL OVERVIEW USD: The US dollar has been mostly supported this week amid heightened tensions in the Strait of Hormuz as US and Iran continue to exchange strikes. Despite the expectations for an imminent deal and the reopening of the Strait of Hormuz, we still haven’t got
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4 itemsUSD/JPY remains rangebound above the 160.50 support as traders await the US CPI report
USD/JPY flirts with a key upside breakout as yen's intervention-led gains continue to fade
The desk sees the USD/JPY poised for a potential upside breakout as the yen's recent gains, driven by intervention, appear to be waning. Per the full note [source], the US dollar has regained traction amid higher-than-expected inflation data and geopolitical tensions, while the Bank of Japan's dovish stance continues to weigh on the yen. With the USD/JPY testing the critical 158.00 resistance level, a breakout could signal a move towards 162.00, contingent on the Fed's evolving policy stance and upcoming economic data. The market remains cautious, awaiting the US Retail Sales report and Jobless Claims figures, which could provide further direction.
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