Flash: USD/JPY beyond 102.00. Where to next? – Scotiabank, UBS and Commerzbank
FXstreet.com (Edinburgh) – The greenback continues to appreciate against the Japanese yen on Wednesday, lifting the USD/JPY above the 102.00 handle (levels last seen in May) and according to the majority of analysts, leaving the door open for further gains.
According to Eric Theoret, Currency Strategist at Scotiabank, the short-term technicals remain bullish, with “momentum indicators are steady and suggestive of further gains. A break of Monday’s highs would likely provide for a rally above 102.00, beyond which lie the late May highs near 102.50”.
In addition, strategists at UBS keep the bullish bias on the pair, adding “As bullish conditions …read more