USD/JPY has touched its highest level in over a month at 139.00. The pair could climb as high as the August 1998 peak of 147.65, economists at BBH report.

Bank of Japan stood out at Jackson Hole as the Lonesome Dove

“USD/JPY is trading at the highest since July 15 near 139 and will soon test the July 14 high near 139.40.”

“We maintain our medium-term target of 147.65, the August 1998 high, as the BoJ stood out at Jackson Hole as the Lonesome Dove.”