Nobuo Ichikawa, chief manager of forex trading at Mitsubishi UFJ Trust out with a note
Ichikawa says that 126.00 is the likely high this year as the market awaits a Fed rate hike in Sep
After they pull the trigger, profit taking could send the pair back down to 123.00. He doesn't see the pair rising higher than 125.00 if the Fed raise a second time in Dec
For the week ahead he sees a 123.00 - 125.00 range with the markets focus squarely on the July FOMC and Q2 GDP data out at the end of the month
