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USD/JPY points to a consolidative pattern – BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The research team at BBH has reiterated USD/JPY keeps pointing to a rangebound pattern for the time being.

    Key Quotes

    “The dollar is often in a range against the yen”.

    “When it looks like it is trending, it is frequently simply moving from one range to another. Consider the recent price action. From late-August through earl-November, the dollar was confined to a JPY118.00-JPY122.00 range”.

    “After testing the lows in late October, the dollar began to trend higher. First to the upper end of the range and through that. It has entered into a new trading range over the past month: JPY122.00-JPY124.00”.

    “Although the dollar finished on a firm note, we suspect that the slippage in the 10-year bond differential and an upward revision to Q3 GDP estimates (from a small contraction to a small expansion) may help reinforce the ceiling”.
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