Mizuho believes the growth of the dollar / yen excessive

U.S. dollar strengthened against the Japanese yen, reaching its highest levels in three weeks and having played half the reduction in early June-mid July. However, according to analysts Mizuho, the growth of U.S. currency exceeds expectations. This upward movement, believed in the bank, is part of the consolidation process similarity near the "line of the neck, which eventually could become a corrective setback type A, B, C. Therefore, currency strategists expect Mizuho prefer signs forming the top of today or early next week. As a strategy to recommend the bank to open small short position at 94.75 with a stop order above 95.35 and reinforce their confidence with the break below 94.40 and further to 93.25. At this time, a pair of dollar / yen trading at around 94.82.