Forex Flash: USD/JPY may target 91.80-92.00 - BBH

While USD/JPY is trading last at 92.71, near session highs, and off session lows at 92.35, with all Asian markets closed on holiday but Australia and NZ, “the dollar appears to have carved out a triangle pattern intersecting near JPY92.50 and JPY92.90,” says Global Head of Currency Strategy at Brown Brothers Harriman, Marc Chandler, who adds: “If this is a continuation pattern, a move toward JPY91.80-JPY92.00 would be targeted. On the other hand, a move above JPY93.00-20 would stabilize the tone and suggest a near-term consolidative tone,” the analyst concludes.