Currency strategists recommend selling dollar / yen

According to analysts Mizuho, the dynamics of the yen since March, the month appears increasingly imbalanced. Momentum indicator gives a bearish signal, and at the bank believe that the downward pressure in the pair will increase until the dollar / yen is below the level of 96.50. Over the next three weeks, currency strategists expect Mizuho test trend line support near the 95.00 level, with a view to reducing the level of 94.55. Based on what to recommend to the bank to sell dollar / yen at current prices to gain positions at 96.00 and a stop above 97.35. Currency strategists RBS also recommend a couple to sell the dollar / yen in anticipation of meeting FOMC. Bank analysts believe that members of the FOMC did not become too spread on the policy of quantitative easing and not say anything new with regard to the economy, inflation and the forecast for interest rates. As a result, interest in risk may be further reduced, which would strengthen the Japanese currency. The pair dollar / yen trading at the moment at around 95.18.