Goldman Sachs: BOJ has limited options to fight JPY appreciation

Goldman Sachs analysts expect the USD/JPY pair to drop to 103 in the next three months. Currently, the pair is trading at 107.68, down 1.82% on a year-to-date basis. 

Key points

• Geopolitical risks make Yen the best G10 long.
• The Bank of Japan is likely to extend forward guidance in October.
• The BOJ hsas limited options to fight JPY's ascent.