Usd-Jpy Would Likely fall Sharply Towards the 78-79 Area in the Event of a Greek Exit

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Usd-Jpy Would Likely fall Sharply Towards the 78-79 Area in the Event of a Greek Exit

Quotes from Standard Chartered:
-In the event of a Greek exit, USD-JPY would likely fall sharply towards the 78-79 area. Two factors would limit the downside in this pair. First, we think that the 78.00-50 area is a red line for the Japanese authorities, a breach of which would trigger massive FX intervention by the BoJ.
-Second, a Greek exit would result in broad-based USD strength, which in turn would provide some support for USD-JPY at the margin. As a result, we think that the downside in USD-JPY would be limited to 77.50-78.00 in the event of a Greek exit, with contagion contained.

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Usd-Jpy Would Likely fall Sharply Towards the 78-79 Area in the Event of a Greek Exit Instaforex_mb_760x151_en

Usd-Jpy Would Likely fall Sharply Towards the 78-79 Area in the Event of a Greek Exit Instaforex_mb_760x151_en

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