Forex News USD/JPY is likely to hold above Wednesday's low of 103.77 until next week, says Mizuho Corporate Bank's Nicole Elliott. For this morning, and possibly all day, she looks for consolidation between 104.50 and 105.50, followed by a short squeeze toward 106.20, where a top and reverse are likely. Elliott favors shorts at market, with a stop above 106.25, to target 103.80, 103.00 and eventually 100.00. USD/JPY now at 105.40.
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