#USDJPY @ 132.020 to move into the low 120.00’s this year – MUFG
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The Yen has rebounded modestly supported by the release of stronger than expected wage data from Japan. Economists at MUFG Bank stick to their forecast of USD/JPY 120 this year.
“The stronger monthly wage data will need to be backed up as well by a favourable outcome for the spring wage negotiations to trigger a stronger rally for the Yen.”
“The Yen is currently lacking a fresh catalyst to trigger further gains although we still expect USD/JPY to move into the low 120.00’s this year.”
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