USD/JPY Will Range Between 100 And 105-Don’t Count On It Reaching 110!

USD/JPY has been ranging between 100 and 105 for a few months. Are you expecting a breakout to the upside with 110 as your profit target? Don’t count on it. It is not going to happen. This is what Mr. Yen says. Watch the video below in which he says that for now USD/JPY will move between the 100 and 105 band.

Yen bears could be in for disappointment this year if former Japanese currency official Eisuke Sakakibara’s latest comments are anything to go by. Sakakibara, nicknamed “Mr Yen” in the late 1990s for his efforts to influence the currency’s exchange rate, expects the yen to hover in a 100-105 range for the remainder of 2014.

So for now don’t count on USD/JPY to climb up to 110.