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 |
|---|---|---|
UOB | Bearish | 163.00 |
Citi | Bearish | 163.00 |
MUFG | Bullish | 146.00 |
From the original
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
Related speeches
4 itemsUSD/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.
USD/JPY finally reaches a key level after multiple interventions. What's next?
Lead — The USD/JPY pair has reached a pivotal level following multiple interventions, with the outlook remaining bearish for the yen as geopolitical tensions ease. Per the full note [source], the US dollar has weakened amid positive developments regarding US-Iran relations, which could lead to a decline in oil prices and increased rate cut expectations. However, the Bank of Japan's recent decisions and the ongoing macroeconomic challenges suggest continued pressure on the yen. Upcoming US labor data will be crucial in shaping market sentiment and positioning ahead of potential Fed policy shifts.