USD/JPY: August low at 130.40 is a foregone conclusion, then May low near 126.35 – BBH

FXStreet Insights Team FXStreet

The Yen is trading flat near 131.80 after trading as low as 130.60 yesterday. Break below the August low near 130.40 would set up a test of the May low near 126.35, economists at BBH report.

BoJ to hike in 2023

“Now, all bets are off as markets rightfully price in a BoJ hike in 2023.”

“The August low for USD/JPY near 130.40 is a foregone conclusion. After that is the May low near 126.35. After that is the March 31 low near 121.30 but let's get to 125 first and then we can talk.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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