BTMU: USD/JPY aiming to Y115

The pair USD/JPY remained in a range in recent days as investors are uncertain about the future actions of the Bank of Japan and Federal Reserve, note forex strategists of BTMU.

The rate of the Japanese currency against the dollar is unlikely to affect especially from the meeting of the European Central Bank, scheduled for March 10, although the event may cause movements in EUR/JPY.

However, if the regulators on the continent take aggressive incentives that would reinforce expectations of their colleagues from the Land of the Rising Sun to follow suit. By BTMU does not believe that BoJ would vote changes of the monetary policy this month.

In the short term, USD/JPY will likely test the area of ​​Y115.00, provide analysts, but do not expect a move higher as the possible growth would be limited by offers made by Japanese exporters.