USD/JPY: BNP targeting 130 between now and beginning of 2016

The BoJ Governor told the Japanese Parliament that he is in favour of a lower Yen as long as foreign exchange rates move in a stable manner and reflect economic fundamentals, says BNP.

"These comments refer to the actual real exchange rate which Mr. Kuroda said was very weak last week. We believe that the correct interpretation is that the BoJ is promoting a continuous decline in the JPY which would help bring inflation back to 2%."

"We are targeting 130 on the USD/JPY by early next year due to our assumption that the Fed will raise its key rate in September of this year." adds BNP.

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RBS posted an identical forecast last week!
USD/JPY forecast