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4 Feb 2015
USD/JPY tuck in a range, but 125.00 on a 12m view
FXStreet (Guatemala) - USD/JPY is currently trading at 117.52 with a high of 118.01 and a low of 117.23
USD/JPY is stuck within familiar ranges and capped by the 118 handle with lower highs being the theme although with the greenback taking the major back onto the 117 handle and out of bearish territory again, back into neutral.
Speaking of being stuck in a range, Jane Foley, Senior Currency Strategist at Rabobank, explained that the USD/JPY has shown a propensity to remain range bound for extended period. "Last week’s comments from government officials may be an attempt to create a period of consolidation over the coming weeks. That said, we maintain the view that USD/JPY is likely to move towards the 125 level on a 12 mth view."
USD/JPY is stuck within familiar ranges and capped by the 118 handle with lower highs being the theme although with the greenback taking the major back onto the 117 handle and out of bearish territory again, back into neutral.
Speaking of being stuck in a range, Jane Foley, Senior Currency Strategist at Rabobank, explained that the USD/JPY has shown a propensity to remain range bound for extended period. "Last week’s comments from government officials may be an attempt to create a period of consolidation over the coming weeks. That said, we maintain the view that USD/JPY is likely to move towards the 125 level on a 12 mth view."