USDJPY recorded an outside up week - BBH

The dollar popped higher against the yen after making a new two-month low in the middle of last week (~JPY108.85) and finished the week a little below JPY111.00, snapping a two-week drop, explains the research team at BBH.  

Key Quotes

“It recorded an outside up week, a bullish bar chart pattern.  It closed above its 20-day moving average for the first time in a month, and although the five-day moving average has not crossed above, it looks poised to early in the week ahead. Because US Treasury yields, as we shall see, are not so supportive and the upside momentum in equities appears to have stalled as the quarter draws to a close, it may be best take it one step at a top, even if a more durable dollar low is in place.  Initial resistance is JPY111.60 and then JPY112.25, before JPY113.00.  On the other hand, a move below JPY110.50 would be an initial warning that the dollar bears have not given up.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.