10 Apr 2014
USD/JPY is down in broader range; neutral - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the JPY is down and catching its breath after its 3‐session 2% rally.
Key Quotes
“News flow has been light, with the market focus on the likelihood of BoJ action later this spring. Equities continue to soften, driving a disconnect between FX markets and equities."
"USD/JPY short‐term technicals: mixed with USD/JPY stuck in a broad range. There is better risk reward elsewhere. Support lies at the recent lows of 101.21 with resistance at the 100‐day MA at 102.94."
Key Quotes
“News flow has been light, with the market focus on the likelihood of BoJ action later this spring. Equities continue to soften, driving a disconnect between FX markets and equities."
"USD/JPY short‐term technicals: mixed with USD/JPY stuck in a broad range. There is better risk reward elsewhere. Support lies at the recent lows of 101.21 with resistance at the 100‐day MA at 102.94."