USD/JPY: SocGen says pair has 110 in sight

SocGen remains bullish on the USD/JPY:

"No change in monetary policy at the BoJ and RBA. The USD/JPY continues to evolve in line with the real 10-year yield spread. China and India's strong PMI index and the oil rebound after a 2-day rise are weighing down on rates. We retain the view that the pair will continue its rise on the forex with 110 in sight by the end of the year if we're lucky.

We remain bullish on the USD/JPY since 100.30 and believe that the AUD/USD chart is bullish. A break of 0.78 and a bullish rally is likely." says the SocGen bank.