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23 Jun 2015
USD/JPY: In a new range - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that over the past two weeks USD/JPY has built a shelf near JPY122.40.
Key Quotes:
"The rise in US Treasury yields and equity market gains (the Nikkei closed at near 15-year highs today). appears to be helping underpin the dollar. The technical indicators are supportive. Still, the dollar is likely will likely encounter offers in the JPY124.40-60 area. "
"We often find that the dollar-yen is a range bound pair and when it looks like it is trending it is moving from one range to another. The dollar trended higher from mid-May through early June. It was moving out of the previous range of roughly JPY118-JPY122."
"The new range looks to be JPY122-JPY126."
Key Quotes:
"The rise in US Treasury yields and equity market gains (the Nikkei closed at near 15-year highs today). appears to be helping underpin the dollar. The technical indicators are supportive. Still, the dollar is likely will likely encounter offers in the JPY124.40-60 area. "
"We often find that the dollar-yen is a range bound pair and when it looks like it is trending it is moving from one range to another. The dollar trended higher from mid-May through early June. It was moving out of the previous range of roughly JPY118-JPY122."
"The new range looks to be JPY122-JPY126."