USD/JPY: BTMU expects pair to drop down to 100.00

In an analysis published today, BTMU expects a further drop of the USD/JPY to 100.00, a psychological threshold:

"The recent weakening of the dollar suggests that USD bulls are losing strength. It has indeed almost been 5 years since the US dollar marked a low point in early 2011, and has been rising since.

As for the yen, it remains undervalued and has significant room to climb.

In the end, the USD/JPY could fall down to the 100.00 area, a level close to the valuation indicated by our models.

In the short term, we also maintain a bearish view, within a horizontal range from 110.50 to 112.50."