25 May 2015
USD/JPY supported at 120.60/80 – BBH
FXStreet (Edinburgh) - In the view of analysts at BBH, USD/JPY could find decent support around the 120.60/80 band.
Key Quotes
“The dollar recorded an outside up day against the Japanese yen before the weekend”.
“The 5-day moving average crossed above the 20-day”.
“Both the RSI and MACDs are constructive.bMany participants are talking about a run at the year's high, a little above JPY122, and beyond there, JPY123.80”.
“Still, a word of caution is in order. The dollar finished the week above the upper Bollinger Band (~JPY121.40), and on the rare occasions when this has happened over the past year, it has coincided with a dollar pullback”.
“Initial support is seen in the JPY120.60-80 area”.
Key Quotes
“The dollar recorded an outside up day against the Japanese yen before the weekend”.
“The 5-day moving average crossed above the 20-day”.
“Both the RSI and MACDs are constructive.bMany participants are talking about a run at the year's high, a little above JPY122, and beyond there, JPY123.80”.
“Still, a word of caution is in order. The dollar finished the week above the upper Bollinger Band (~JPY121.40), and on the rare occasions when this has happened over the past year, it has coincided with a dollar pullback”.
“Initial support is seen in the JPY120.60-80 area”.