USD/JPY outlook back to neutral - Westpac

FXStreet (Bali) - The Westpac FX Team has shifted their bias back to neutral for both USD/JPY and EUR/JPY.

Key Quotes

"Having sat long USD/JPY for around a month, we flipped back to neutral last week. The fact that US bonds cannot sell off on a soaring US data surprise index (NFP, ISM etc); the fact that Kuroda seems to be content with monetary policy settings and the fact that Ukraine will likely remain as a potentially significant market risk for some weeks to come means the time is still not ripe to sell the yen. We therefore shift our bias back to neutral for both USD/JPY and EUR/JPY."