Dollar’s Rebound to Be Capped at 92 Yen: Technical Analysis

(Bloomberg) -- The dollar’s rally from a 14-year low last week is likely to be capped at 92 yen, Bank of Tokyo- Mitsubishi UFJ Ltd. said, citing trading patterns. “The dollar will unlikely reach a high of 92.32 yen registered on Oct. 27,” said Masashi Hashimoto, a senior analyst in Tokyo at the unit of Japan’s biggest publicly traded bank. The current gain in the greenback will likely be short- lived, he said.The U.S. currency has strengthened 5.9 percent since sliding to 84.83 yen on Nov. 27, the weakest level since July 1995. The dollar traded at 89.84 yen as of 7:25 a.m. in London.

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