7 May 2015
USD/JPY to eventually break higher that 122.00 - BBH
FXStreet (Guatemala) - Analysts at Brown Brothers, when turning to the yen, explained that they have often remarked that the dollar/yen pair is largely a range-trading instrument.
Key Quotes:
"And when it looks like it is trending, it is frequently moving to a new range. For the better part of six month, the dollar has been in a range against the yen."
"The broad range is JPY116-JPY122. Within it, a narrower range has dominated over the last few months, from JPY118.30-JPY120.80. We are more inclined to see the dollar (eventually) break higher out of the range rather than lower."
Key Quotes:
"And when it looks like it is trending, it is frequently moving to a new range. For the better part of six month, the dollar has been in a range against the yen."
"The broad range is JPY116-JPY122. Within it, a narrower range has dominated over the last few months, from JPY118.30-JPY120.80. We are more inclined to see the dollar (eventually) break higher out of the range rather than lower."