145-150 in USD/JPY nominated as the area to watch for Bank of Japan yen intervention

Via National Australia Bank on the yen.

Analysts at the bank say that Bank of Japan intervention to buy yen is likely if USD/JPY trades into the 145-150 band.

They note that current policy from the BOJ is not supportive of long-term yen strength. Rates higher in the US than in Japan a key point.

NAB’s forecasts are for USD/JPY at 133 at the end of Q3 this year, and 125 by the end of Q4.

European Central Bank President Lagarde and Bank of Japan Governor Ueda … ps both are speaking later today:

• It’s a FED, ECB, BOJ, BOE bonanaza today – Powell, Lagarde, Ueda, Bailey all speaking

This article was written by Eamonn Sheridan at www.forexlive.com. Source