eFXdata reports that Danske Research discusses USD/JPY outlook and continues to see the pair trading in 108-110 range in the near-term.

"We continue to expect 112 in 6M and 12M (unchanged), which reflects our view of a strong USD and an expectation that we will not see a worsening in US data but rather a (mild) improvement. EUR/JPY has started to struggle in recent month(s), driven primarily on the back of a declining EUR. This may indeed continue to be the case in the coming months," Danske notes.

"Near term, we see USD/JPY as trading in 108-110 range," Danske adds.