5 Dec 2013
Flash: USD/JPY confined - BBH
FXstreet.com (London) - BBH Strategists said there were a few developments in Japan to note.
Key Quotes:
“First, the dollar has been confined to about a half a yen at the lower end of yesterday's range, which straddles the JPY102 level”.
“Second, the Nikkei lost another 1.5% and finished the Tokyo session near its lows and just below the 20-day moving average (15181). As discussed yesterday, the gap lower opening Wednesday is an ominous technical development. It was not filled today”.
Key Quotes:
“First, the dollar has been confined to about a half a yen at the lower end of yesterday's range, which straddles the JPY102 level”.
“Second, the Nikkei lost another 1.5% and finished the Tokyo session near its lows and just below the 20-day moving average (15181). As discussed yesterday, the gap lower opening Wednesday is an ominous technical development. It was not filled today”.