Forex Flash: USD/JPY projected towards 104/105 - BBH

FXstreet.com (Barcelona) - The break of 100 in USD/JPY has recently lifted the dollar's technical tone and suggests additional gains are likely, says Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman.

March adds: "After trying for nearly a month, the market finally pushed the dollar through the JPY100 level and the up move accelerated to almost JPY102 within 24 hours - now above -. The triangle or wedge pattern that has been convincingly broken projects into the JPY104-JPY105 area. Pullbacks toward JPY100.70 will likely be seen as a new buying opportunity."