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Thomson Reuters
Sep 28 - 06:12 AM
USD/JPY - COMMENT-USD/JPY Set For Larger Gains On Upbeat U.S. Economy
First appeared on eFXplus on Sep 28 - 04:20 AM

The dollar reached a nine-month high against the yen on Friday after data reinforced upbeat views about the U.S. economy and backed the Federal Reserve's signal for steady rate increases over the next year nLNSRKEEL6.
USD/JPY gains had accelerated on Thursday, registered the biggest one-day rise of September, and managed a daily close above the 113.27 Fibonacci level, a 61.8 percent retrace of the 118.66 to 104.56 (December 2016 to March 2018) EBS drop.
If USD/JPY bulls also force a close at the end of trading in the NY session on Friday above the 200-WMA, now at 113.25, that would then unmask the 114.73 November 2017 peak for a retest.
Earlier this week, Bank of Japan Governor Haruhiko Kuroda said the rate gap between the United States and Japan was likely to widen, which all else being equal should lead to USD/JPY rises .

Weekly Bollinger Chart: Click here

Source:
Thomson Reuters IFR Markets

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