FXstreet.com (San Francisco) - Inside a choppy market in the Friday's session, the USD/JPY has fallen close to 78.10 again after losing around 30 pips from 78.30 traded in the American opening bell. The US Dollar has been trading in range against the Japanese Yen between 78.10 and 78.30 in the whole section.
Currently the pair is pricing at 78.13, 0.13% below opening price action. Mataf.net analysts point to resistances at 78.35, 78.85 and 79.20. On the downside, supports might be found at 78.05, 77.70 and 77.35.
According to the BBH analyst team, the Yen may strengthen further against dollar and euro. "The yen's drop then was partly a function of the risk-on that followed the second LTRO", says Brown Brothers Harriman team. "If the risk-off forces gain the upper hand here, the yen may strengthen further, not just against the dollar, but against the euro and other crosses as well".
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