Barclays: Range-bound moves in USDJPY to continue near term with eyes on Nikkei

eFx Plus view from Barclay's Capital FX Strategy Research

Barclays capital FX strategy research takes a look at the USDJPY in light of recent price action of the Nikkai index

"Nikkei rose to the highest level since March at the beginning of last week in response to higher US treasury yields, but the pair gradually fell to a 113 handle. Nikkei hit a 26 year high and 50% retracement of its post-bubble decline, only to fall sharply thereafter, driving USDJPY lower with it.

We still expect USDJPY to remain in the recent range for the near term, but the Nikkei moves we watched closely"

The following view is brought to you from eFX Plus. To subscribe to their services, CLICK HERE.