USD/JPY Now Focused on 105.00 – BBH
Analysts at BBH have noted the relevance of the 105.00 handle amidst talks of BoJ intervention.
“The dollar hit a low near JPY105.55 on May 3 before bouncing back to JPY107.50”.
“Recall that the previous lows were in the JPY107.60-JPY107.70 area. What was once support is now resistance”.
“It ran out of steam there as the buying dried up, and a break of the JPY106.30 area now may signal a retest on the lows”.