USD/JPY: analysts’ comments
BBH: A convincing break 99.50 is needed to open up the downside for the pair. After that, the 100-day MA, now at 98.29 will be the next important target to watch. However first, it bears notice if the 100 level will hold this week.
Societe Generale: The pair will consolidate between 95.60 and 101.90. A decisive close in either direction will dictate the future trend. For the day, the pair will continue to drift lower towards 99.28. 100.46 limits upside.
SEB: The bounce came close (100.19) to the mid body point (100.23) before falling back confirming the exit of the short term bear flag. The behavior is strengthen our view of being in the early stages of the next leg lower, down to 97.20 (95.40) within the larger bull triangle.
UBS: We recommend staying long USD/JPY and look for a move up to 105 in 3 months.
Chart. H4 USD/JPY