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Forex Flash: A move to 110.00 on USD/JPY looks reasonable - Societe Generale

By FXstreet.com,  January 10, 2013, 07:27:00 PM EDT

FXstreet.com (Barcelona) - With the most recent high in Asia printed at 89.28, according to Kit Juckes, Head of FX at Societe Generale, there is still plenty to chew on for the Yen bears.

Mr. Juckes notes: "Recent lows in USD/JPY are more like a level of around 100 in the early 1990's, as opposed to being comparable to 1995's spike down to 80 in 1995. But on the other side of the equation, a move to USD/JPY 110 looks to me a reasonable 'extreme' target, comparable to the levels we have seen in past periods of yen weakness."

"Put that in EUR/JPY terms and we can target 130 in extremis, and even if I think AUD/USD 'should' be around parity at some point, that leaves a lot of potential to buy AUD/JPY" Kit adds.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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