Deutsche Bank FX Strategists predict USDJPY to reach 115 by the end of 2014 and 120 by the end of 2015, suggesting a strategy involving buying a long-dated in-the-money call and selling an in-the-money knock-out for positive carry and time decay. The document includes an example strategy and indicative levels, with a focus on the weakness of the Japanese Yen against the USD.
doj/DataSet10/EFTA01451131.pdf
{"title":"Bearish Yen, Positive Carry Trade","key_people":["Deutsche Bank FX Strategists"],"document_date":"2014-01-07","document_type":"correspondence","key_locations":["Japan"],"document_subtype":"financial analysis","key_organizations":["Deutsche Bank","Bloomberg"],"reference_numbers":["DB-SDNY-0107367","SDNY_GM_00253551","EFTA01451131"]}