Analysts at Sumitomo Life Insurance believe that the pair USD/JPY will once again drop below 80 yen in the first quarter of the next year. In their view, currency interventions didn’t put an end to yen’s strengthening.

At the same time, the specialists underline that this move will be the final round of the currency’s appreciation. Sumitomo forecasts that during the next few years the greenback will be able to climb to 120 yen. American currency will get support from the US economic rebound and Federal Reserve's policy normalization that, in its turn, will widen the gap between Japanese and US interest rates.



Chart. Weekly USD/JPY