Barclays Research economists expect the pair to USD/JPY continue its upward movement. The next target is at 145.00, ahead of 150.00.
Resistance to the notion of joint intervention continues
“Though actual intervention might bring a correction substantial in light of recently increasing volatility and liquidity conditions, we believe that would be unlikely to drive a major directional changeas the US continues to resist the notion of joint intervention and the US-Japan monetary policy divergence, the driver of USD/JPY’s rally, remains intact.”
“The market will watch 144.99 (high from last week) and 145.00 (psychological level), but we don’t see any clear technical levels beyond until the resistance seen in the 147.70 (1998 high) and 150.00 (psychological level).”
Source: Fx Street