Forex Flash: USD/JPY 88.80 next target; pullbacks capped by 86.80-87.30 - BBH
Forex pairs in this Article » USD/JPY
FXstreet.com (Barcelona) - The JPY88.80 area is the next immediate dollar target, comments Marc Chandler, Global Head of Currency Strategy at BBH. Above that level, and as the JPY90 area may be approached, "it will be increasingly important to watch how the yen performs in Asia and whether Japanese corporates try to lock in profits or hedges" Marc notes. A strategy centered around buying dollars on shallow dips "likely to be the preferred strategy of the trend following and momentum traders" the analyst said, anticipating retracements to be capped by JPY86.80-JPY87.30 range.