ANZ is targeting 150 on USD/JPY, but is wary of verbal yen intervention

<p>Following up on this from last week:</p><ul><li><a href="https://www.forexlive.com/news/anz-forecast-that-usdjpy-is-more-likely-to-reach-150-than-140-in-the-coming-month-20230830/" target="_blank" rel="follow" data-article-link="true">ANZ forecast that USD/JPY is more likely to reach 150 than 140 in the coming month</a></li></ul><p>More:</p><p>ANZ … targeting a move toward 150. The bank believes that this trajectory will hold unless there's a substantial shift in the rate outlook for either the U.S. or Japan. While intervention from policymakers could pose a risk, ANZ anticipates that mere verbal intervention, or "jawboning," will suffice until the 150 threshold is reached. </p><p>
Key Points: </p><ul><li>Rate Outlook: ANZ suggests that a significant change in the monetary policy outlook for either the U.S. or Japan is a prerequisite for altering the bullish trajectory. </li><li>Intervention Risks: Though ANZ acknowledges the possibility of intervention by policymakers to stabilize the currency pair, they believe the threshold for action is likely around the 150 level. </li><li>Jawboning: ANZ predicts that until the 150 mark is breached, authorities are likely to rely on verbal interventions rather than actual market interventions to influence the currency's trajectory.</li></ul><p align="left">
This
summary is via the folks at eFX.
</p><p align="left">
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This article was written by Eamonn Sheridan at www.forexlive.com.