USDJPY: Range bound trading in progress - BBH

According to the analysts at BBH, in the past eighth sessions, the dollar has risen against the yen in six sessions, including today while the ranges remain tight and the pair is unable to break out of its current trading range.

Key Quotes

“For the third day, the dollar is in a JPY113.50 to the JPY114.15 range.  The small upward revision to Japan’s Q4 16 GDP was of little importance to trading.  The upward revision to 0.3% from 0.2% left consumption flat and seemed to be mostly a function of slightly stronger capex, which appears tied to the export sector.  It was the fourth consecutive quarter that the world's third-largest economy expanded in three years. The key test for the dollar comes near JPY115.00.”