USD/JPY: 120 upside maximum due to China – Rabobank

By FXStreet Analysts at Rabobank explained that although there are likely to be periods of improved risk appetite, the deep rooted concerns over the outlook for China could persist for years.

Key Quotes:

“The implication is that the JPY is likely to remain relatively well bid and we have lowered out forecasts for USD/JPY.

On the assumption that the Fed can still hike rates again this year, we expect some upside in USD/JPY this year to 120 on a 12 mth view, but downside risks prevail.”
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Source:: FX Street