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🔴JAPANESE YEN, USD/JPY NEWS AND ANALYSIS
🎯BoJ Governor Kuroda favors yen appreciation despite expressing caution around the drawbacks
🎯USD/JPY to rise further on the back of comments, 125 in sight
🎯IG client sentiment remains heavily net-short but signs of short covering emerge

BOJ’S KURODA FAVORS YEN WEAKNESS
The Bank of Japan’s Governor Kuroda mentioned that a weak yen pushes up the value of Japan firm’s profits earned overseas, which helps boost capital expenditure and wages. He continued to state that the weak yen is positive for the Japanese economy as a whole.

Concerns were raised that the benefits of the yen weakness could be uneven across industries and that a weak yen negatively impacts household’s real income and firms that are reliant on imports. On the whole, the comments have been viewed in a positive light with regard to the current USD/JPY bull run despite the pullback...

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USD/JPY Price Forecast: BoJ Favors Yen Weakness, Bull Run to Continue The Governor of the Bank of Japan’s comments revealed caution over recent yen depreciation but explained that benefits outweigh the drawbacks – USD/JPY bullish