USD: Three consecutive weeks of dominance on yen – BBH

Research Team at BBH, notes that the US dollar has risen against the yen for three consecutive weeks which happens to be the longest streak in nearly five months. 

Key Quotes

“The dollar closed several sessions above the 100-day moving average for the first time since February.  The increase in US rates seems to be the driver.  The greenback edged above the September high (~JPY104.30), but has not made a clean break, perhaps due to the proximity of the 61.8% retracement (~JPY104.45) of the dollar's decline since seeing JPY107.50 on July 21.  Above here, the next target is JPY105, then JPY105.60.  Support is seen near JPY103.20-JPY103.40.”

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