The dollar / yen. Citigroup warned!
Dollar / Yen (USD / JPY) could continue to rise this week, but I "I do not be surprised"If the pair will fall to Y105.50 as early as next week, said Osamu Takashima, chief currency strategist at Citigroup Global Markets Japan. "Beware of the traps during a bull market"- warns Mr. Takashima. The couple can touch Y107.00, or the upper boundary of the channel Bollinger later today. Couple "gained significant momentum" during the last three days, which was due to the increase of yield of 2-year US Treasury bonds, triggering their own strength of the dollar against its peers. However, the picture in the yen with the dollar dramatically difference behavior in pairs with the euro and the pound, which has already started a correction. Support is now located around Y106.30, but USD / JPY, likely to preserve the sanctity of the main trend remains above Y105.50, or support of the Ichimoku cloud. Source: Forexpf.Ru - Forex Market News
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