Morgan Stanley is neutral on USD/JPY.

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Morgan Stanley analysts reported their neutral outlook on USD/JPY.

“We think USDJPY could tactically rebound to 112.50, as strong global risk appetite reduces the demand for safe haven assets and pauses JPY-supportive repatriation flows by domestic investors. However, our medium term bullish view on JPY has not changed and we would look to sell at 112.50. This week, CPI numbers and the BoJ meeting will be in focus as markets assess whether the BoJ still has policy tools left to curb the unwanted currency strength.” written in the report.

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