Analysts at Deutsche Bank paying attention to the fact that lately everything goes against the yen bears: On April 28, the Bank of Japan did not increase stimulus measures and hardly gave hope to the Ministry of Finance to intervene in the currency market.The Japanese probably wanted to attract the support of other key central banks in the event of intervention and in this context is quite remarkable that the US Treasury in its semiannual report on foreign exchange market, published on April 29, describes the dynamics of dollar/yen as arranged.
There are risks of increased demand for yen. At Deutsche Bank believe that Japan would be difficult to conduct large-scale intervention to support the dollar/yen in the range of Y105 - Y110.Deutsche Bank is short in dollar/yen with a target 113.20. The goal remains 105 yen, as the stop is at 116 yen.
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