USD/JPY: Persistently range bound despite bouts of apparent dynamism - Westpac

According to Tim Riddell, Macro Strategist at Westpac, the USD/JPY pair is likely to remain in a range, as we progress in the third quarter of 2019.

Key Quotes:

“USD/JPY’s failure to hold above 112.00 has led to a slide through the core of its range, centred on the 109-110 area.

Despite an apparent triangle (which often flip ranges on a break), extended range trading remains likely after redefining range support (possibly 104.50-105.00).”