USD/JPY: The pair could still climb on the forex in the short term (Citi)

Citi notes that the USD/JPY is supported on the forex, and this could continue in the short term.

"Dudley of the Fed said that a rate hike is increasingly becoming necessary. William said that a hike in March will be seriously considered. Market expectations for the month of March have since increased.

The USD/JPY failed to break below 111.60 since November 2016. The pair could move in the 111.60-115.62 range in the short term and we have a bullish bias."