USDJPY: Technical tone remains vulnerable - BBH

Research Team at BBH, notes that the dollar has advanced against the yen for the past four Fridays and the next immediate target is the JPY103.15-JPY103.25 area, and then the recent high a little above JPY104.30. 

Key Quotes

“The technical tone remains vulnerable, though.  The MACDs may cross lower, while the Slow Stochastics have already turned.  The sharp drop in US equities before the weekend will likely weigh on Asian shares at the start of the new week.  The developments in the equity market may, in the first instance, hamper the dollar's recovery against the yen.”