Forex: USD/JPY jumps to highest since June 2009 at 97.80

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FXstreet.com (San Francisco) - The USD/JPY is extending its daily gains and after a brief period of consolidation between 96.85 and 97.15, the USD/JPY resumed its uptrend to break above previous highs at 97.25 and reach fresh highest since June 16th 2009 at 97.80. Currently the pair is trading at 97.67.

With 1.40% gains on the day, the USD/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are bullish while the Stochastic is bearish.

Early in the day, the RBS analyst team published that the BoJ opened "a new era of the JPY funded carry trade," and they said that the RBS' target for the year end is 110.00. Sooner, HSBC revised higher its USD/JPY forecast to 95.00 in Q2. But HSBC keeps view that pair will finish year lower than current spot, targeting 88.00.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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