USD/JPY is up at 92.10 presently, slightly off session high 92.21, but appreciably firmer from where we started out in Europe, namely down around 91.50.
I keep thinking about Jim O’Neil’s interview with Bloomberg last week, and how vehemently opposed he was to the recent JPY strength.
Suffice it to say, Goldmans back up Mr O’Neil’s views. They see USD/JPY at 98.00 and EUR/JPY at 142.00 at year-end.
Technical resistances next at 92.20/25 and 92.45/50.
