Goldman Sachs lowered its forecast for the exchange rate of the US dollar against the yen, saying that Japan's domestic policy environment has improved, compounded by the possibility that Japanese capital will return to the mainland, and the reasons for increasing yen holdings have become more sufficient. Strategist Karen Reichgott Fishman's latest forecast: the three-month target for USD/JPY is 158, the six-month target is 155, and the 12-month target is 150; previous predictions were 162, 163, and 165, respectively. In the research report, she wrote, “Combining these changes, the attractiveness of going long for the yen has increased, and it is particularly suitable for hedging the risk of recession concerns.” Goldman Sachs also believes that the potential threat of Japan's further foreign exchange intervention will limit the upside of the US dollar against the yen. In the short term, Goldman Sachs maintains a cautious tactical stance, preferring to short EURJPY.

Goldman Sachs lowered its forecast for the exchange rate of the US dollar against the yen, saying that Japan's domestic policy environment has improved, compounded by the possibility that Japanese capital will return to the mainland, and the reasons for increasing yen holdings have become more sufficient. Strategist Karen Reichgott Fishman's latest forecast: the three-month target for USD/JPY is 158, the six-month target is 155, and the 12-month target is 150; previous predictions were 162, 163, and 165, respectively. In the research report, she wrote, “Combining these changes, the attractiveness of going long for the yen has increased, and it is particularly suitable for hedging the risk of recession concerns.” Goldman Sachs also believes that the potential threat of Japan's further foreign exchange intervention will limit the upside of the US dollar against the yen. In the short term, Goldman Sachs maintains a cautious tactical stance, preferring to short EURJPY.