JP Morgan revised its USD/JPY forecasts higher expecting the pair to trade in the 80-90 range for most of 2013, (previous forecasted range was 75-85). "This revision was necessary since we had underestimated 1) the multiplier effect on the currency of Japan’s trade deficit, and 2) the significant change in non-Japanese investors' perception towards Japanese politics and policies," JPM clarifies. The upside risk to this view, according to JPM, could probably take USD/JPY towards 100 by end-Q2 if one or more of these 3 scenarios materialize in Q1/Q2: (1) US employment figures improve significantly, (2) the Chinese ... (full story)