USD/JPY to enjoy further gains towards 135 by year-end – Nordea

The yen now stands around 130, a 20-year low versus the US dollar. Economists at Nordea expect the USD/JPY to advance towards the 135 level by year-end.

USD/JPY to move lower during the second half of 2023

“Back in 2002, USD/JPY topped at 135 and we expect USD/JPY to move towards this level by end-2022.” 

“At some point, the peak USD bullishness will turn around and we expect USD/JPY to move lower during the second half of next year.”