USD trying to bottom against the JPY - BBH

The dollar appears to be trying to bottom against the yen as it posted a key reversal on March 28, according to analysts at BBH. 

Key Quotes

“There are some dollar bullish divergences among the technical indicators we look at, and the dollar appears to have traced out a head and shoulders bottom pattern.  The neckline is found around JPY107 and has a measuring objective near JPY110.”

“The dollar found support near JPY107 ahead of the weekend despite the pullback in US yields and drop US stocks.   A move below JPY105.70 would negate the pattern, but a break of a trendline drawn off the March 28 low, which comes in near JPY106.35 on Monday and rises to JPY107.10 on April 13, would be an early warning sign.”