USD/JPY: range bound between 123 and 125 - BTMU

FXStreet (Guatemala) - Analysts at The Bank of Tokyo Mitsubishi UFJ explained the conditions surrounding USD/JPY.

Key Quotes:

"The FOMC minutes weakened market anticipation for September the Fed rate hike. Next week, USD/JPY will likely stay around 124, though Japanese non-manufacturer to sell JPY for large scale overseas investment near 123USD/JPY."

"The fragile equity market momentum and Japanese exporter’s USD/JPY selling toward end of this month may limit USD/JPY rise near 125."