USD/JPY: Who's buying and how much? (Deutsche bank)

The GPIF Japanese public pension fund, which has about 140,000 billion yen in various assets, continues to buy foreign assets in order to carry out the new strategy that was outlined last October. Other private funds are also imitating the GPIF's approach and weigh about 50,000 billion according to the Deutsche Bank.

"We believe that purchases of foreign assets made by Japanese investors will reach several thousand billion yen over the next 6 months, which will support the increase of the USD/JPY."

"We expect the USD/JPY to reach 125 by the end of 2015 and 130 by the end of 2016", says Deutsche Bank.