10 Aug 2015
Buy the dips towards 123.20 in USD/JPY – BBH
FXStreet (Edinburgh) - The research team at BBH sees buyers of the pair lining up in the area of 123.20.
Key Quotes
“The dollar made a new marginal high of almost JPY125.10”.
“However, there was momentum, and despite the constructive US employment data, the yield on the 10-year Treasury slipped”.
“Despite a number of attempts since early June, has only managed to close above JPY125 once. That proved to be a near-term top”.
“The dollar's technical condition deteriorated with the reversal after the US employment report. Initial support is seen near JPY 124.00, which also corresponds to the 20-day moving average. Look for better dollar buyers on a move toward JPY123.20”.
Key Quotes
“The dollar made a new marginal high of almost JPY125.10”.
“However, there was momentum, and despite the constructive US employment data, the yield on the 10-year Treasury slipped”.
“Despite a number of attempts since early June, has only managed to close above JPY125 once. That proved to be a near-term top”.
“The dollar's technical condition deteriorated with the reversal after the US employment report. Initial support is seen near JPY 124.00, which also corresponds to the 20-day moving average. Look for better dollar buyers on a move toward JPY123.20”.