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USD/JPY likely to consolidate – Kshitij Consultancy

FXStreet (Barcelona) - According to the Analysts at Kshitij Consultancy Services, the USD/JPY rally has stopped for now, and is looking to consolidate over a medium term.

Key Quotes

“As expected the 118-handle on Yen (117.81) has stopped the Dollar-Yen rally for now. We expect this area to be much difficult to cross, and Yen is more likely to consolidate in a broad range for medium term. Unless something radical on fundamentals front like Japanese election results, we are likely to have seen the bulk of the Yen-depreciation for now.”

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