Could 107 be the barrier, once broken will bring about 108 and 109 for the USDJPY.
Whilst volatility is seen in the USD, it is also slowly gaining strength.
Although the BoJ seems to be moving away from its aggressive stimulus plan, forgoing a 2% inflation target, the Yen seems to be bought only on risk-off situations (reserve assets are bought).
Therefore, if the current market conditions maintain, we could see the USDJPY move above 107 and beyond.
Whilst volatility is seen in the USD, it is also slowly gaining strength.
Although the BoJ seems to be moving away from its aggressive stimulus plan, forgoing a 2% inflation target, the Yen seems to be bought only on risk-off situations (reserve assets are bought).
Therefore, if the current market conditions maintain, we could see the USDJPY move above 107 and beyond.
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