The US dollar's ascent against the Japanese yen continues, this week price action boasted 6-month highs when it reached 101.91. Earlier this week the BoJ sounded pessimistic in the minutes released for the last BoJ policy meeting, with one of the officials saying it was highly uncertain to reach the 2% inflation target. Last week was the fourth consecutive week that the USD/JPY registered higher prices.
For the current week we're expecting a bit of a pullback for the currency pair. We expect much of the up-move to lose traction around 101.93 - 102.54 and to pullback to 100.75 – 100.45 zone.
For the current week we're expecting a bit of a pullback for the currency pair. We expect much of the up-move to lose traction around 101.93 - 102.54 and to pullback to 100.75 – 100.45 zone.
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