Yen to Take a Load Off. Forecast as of 14.10.2024

The Japanese government’s verbal interventions have driven USDJPY 7% up from its September trough amid the strength of the U.S. economy. The officials are now gradually backing away from their attacks on the BoJ. Let’s discuss it and make a trading plan.Highlights and key points The Japanese government is not against raising the overnight rate. BoJ will not delay policy normalization without reason. The potential for the yen to weaken is limited. USDJPY growth to 150.7-151 and 152.2