Levels 149.00 seen as overdone, Yen to strengthen ahead of the BoJ’s March meeting – Rabobank

USD/JPY has surged above the 149.00 level. Economists at Rabobank analyze the pair’s outlook.

USD/JPY seen at 135.00 on a 12-month view

While the market is facing up to the reality that BoJ policy adjustment this year will likely be carefully paced, we view levels at USD/JPY 149.00 as overdone and look for the JPY to strengthen ahead of the March 19 policy meeting.

We view the chances of an April rate hike as strong and maintain a 12-month USD/JPY forecast of 135.00.

 

Source: https://www.fxstreet.com/news/usd-jpy-levels-14900-seen-as-overdone-yen-to-strengthen-ahead-of-the-bojs-march-meeting-rabobank-202402081341