BBH sees USD/JPY relief rallies as selling opportunity near 200-DMA
Brown Brothers Harriman’s Elias Haddad says the yen's recent recovery against the dollar is a chance to sell, as the pair tests the key 200-day moving average resistance.
USDJPY
According to Brown Brothers Harriman's Elias Haddad, USD/JPY has fully retraced its earlier slump and is now testing resistance at the 200-day moving average. The firm views these relief rallies as a selling opportunity, signaling a bearish bias on the pair.
The call implies that the recent yen strength is likely to fade, with the technical barrier reinforcing the view. No specific entry or target levels were provided.
Source: FXStreet Forex News