Niall O Connor: The yen is approaching a range between 102.10 and 101.90 per U.S. dollar that, if breached, could allow it to gain to the February high of 100.75, Niall O Connor , a technical analyst at JPMorgan, said regarding a note to clients today. Bank of Japan Governor Haruhiko Kuroda highlighted a pickup in private investment and increasing industrial production as he maintained the pace of monetary expansion today, according to Bloomberg. The yen strengthened for a third day today, adding 1 percent to 102.08 per dollar at 12:35 p.m. in New York and The Bank of Japan s decision not to add to unprecedented monetary stimulus has the yen poised to breach a key technical level, which may see it strengthen to a two-month high, according to JPMorgan Chase a Co. It implied they re on hold, and it looks like they re going to be on hold for a while, so it took away a potential bearish factor for yen, O Connor said by phone from New York. Given how sharp the move has been theres certainly the risk dollar/yen can extend lower.
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