Forex Flash: USD/JPY reaching 90 through 2013; AUD/JPY moves to 87 - NAB

FXstreet.com (Barcelona) - There is more evidence of the pressures of a strong currency and a lagging technology cycle in Japan, note the NAB strategists in its morning report to clients, after Fitch downgraded Sony and Panasonic to a junk rating.

According to NAB FX strategists: "We changed our JPY forecasts yesterday, to see a weaker JPY in acknowledgement that the election in December and change of BoJ board are game-changers. These factors add to the deteriorating external account. We now see USDJPY reaching 90 through 2013; AUDJPY moves to 87."