Barclays Capital recommends buying the dollar / yen

Dollar / Yen conducts European trading within a fairly narrow range and is trying to choose the direction of motion. As the dealers interested in buying a pair of felt in the area of ​​Y76.60, where this level is a minimum of 17 October. Small feet are seen at the break of Y76.50. Further, the demand for a couple saved in a minimum of 12 October Y76.30. The nearest resistance is the dollar / yen goes to Y76.90, and potentially to Y77.05/10. Larger Ofer located in Y77.45/50, which is the maximum level of Y77.48 on October 12. Meanwhile, Barclays Capital staff recommend buying a couple of dips to Y76.30/76.25, as expected, that the couple is able to develop movement until Y77.85/77.90. They believe that a breakthrough level of 77.90 will attract additional demand for the couple, which will allow the dollar / yen strengthened to the top of the cloud in the day Y78.75. The current dollar / yen Y76.75.