Forex Flash: Confidence of USD/JPY hitting 100.00 slowly fades – Investec

FXstreet.com (Barcelona) - After all the talk last week of USD/JPY hitting the magical 100.00 level, we saw a retracement yesterday with the pair moving back briefly down to the 95.50 level earlier this week. According to the Investec Research Team, “Confidence of hitting the 100.00 level is slowly fading, and with an air of stability flowing back into the pair, last week’s high of 99.94 could well provide strong resistance.”

Moreover, “We are still waiting on the finalized approach from the BOJ on how they plan to beat deflation and bring inflation down to 2%. One thing is for sure, Japan will continue to be a big feature in the markets and in the commentary over the coming months.” they add.