15 Oct 2013
Flash: USD/JPY extending gains - BBH
FXstreet.com (London) - Research teams at BBH said the dollar has extended its gains against the yen to JPY98.70, the highest since Oct 1.
Key Quotes:
“Last Tuesday, the dollar had flirted with its 200-day moving average (that came in near JPY96.73)”.
“With today's gains the dollar is recouped half of the ground lost since the Sept 9 high near JPY100.60, which was the last time the greenback was above JPY100”.
“The next retracement objective is just above JPY99.00. We note that the US-Japan 10-year differential is gradually widening after reaching almost 190 bp, a two-month low at the beginning of Oct. It is now moving above 205 bp”.
Key Quotes:
“Last Tuesday, the dollar had flirted with its 200-day moving average (that came in near JPY96.73)”.
“With today's gains the dollar is recouped half of the ground lost since the Sept 9 high near JPY100.60, which was the last time the greenback was above JPY100”.
“The next retracement objective is just above JPY99.00. We note that the US-Japan 10-year differential is gradually widening after reaching almost 190 bp, a two-month low at the beginning of Oct. It is now moving above 205 bp”.