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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."

Forex: USD/JPY - 102.00 is history now, blue sky until 103.60

The Japanese Yen continues its incessant decline along Asian hours, with specualtors undoubtly more comfortable selling the currency after Japan managed to escape censure from its G7 colleagues again.
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