USD/JPY bulls need to be cautions on BoJ - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at BBH noted how the US dollar advanced sharply in the second half of last week following the dovish Draghi and easing by the PBOC.

    Key Quotes:

    "It consolidated those gains yesterday and in Asia. A BOJ that does not increase its QQE could see a knee-jerk gain in the yen. The JPY120.35-40 area offers initial support. "

    "A break of JPY120 would be disappointing. The euro has posted some upticks after dipping below $1.10, which did not spur new selling. Euro gains could extend toward $1.1100-1.1125 before frustrating the bears."
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