TD Securities prefers to stay in the camp of bulls for the dollar

Asked whether the glass is half empty or half full, and whether the current consolidation of USD/JPY has paused, strategists at TD Securities adhere to the camp of optimists.
In the bank noted that the pair remains above the important support near 110 and it is expected that the statistics from the US this week will support bulls in US currency, especially if the yield on ten-year government bonds remain above 2.3%.
In TD Securities connect strengthening of the yen in recent times with the activities of hedgers and repatriation of capital by Japanese investors and expect that the started a new financial year in Japan will lead to a negative character for the Japanese currency.
At the same time the positive signals from economic reports are expected to contribute to increased overall risk appetite, as their weakening last week also affect the yen.
In TD Securities advised to use attempts to reduce the USD/JPY to 110 for tactical purchases with expectations for growth to 113.50, as the bank adhere to forecast for second-quarter level of 114, but expect a return to 112 and 110 over the next two quarters.