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10 Jun 2014
USD/JPY technicals still mixed - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained there are mixed signals suggesting that USD/JPY lacks a catalyst to push it out of its recent range.
Key Quotes
"Expected weekly range: 1.6723 ‐ 1.6996, range bound favouring upside risk."
"Expected weekly range: 101.76 to 103.50, range bound. JPY is strong into the NA open but still within its recent range."
"Domestic data was encouraging with rising confidence and outlook surveys suggesting that there is increasing buy‐in to the potential success of PM Abe’s policies. This week’s BoJ meeting is expected to prove a non‐event."
“There is better risk/reward elsewhere."
Key Quotes
"Expected weekly range: 1.6723 ‐ 1.6996, range bound favouring upside risk."
"Expected weekly range: 101.76 to 103.50, range bound. JPY is strong into the NA open but still within its recent range."
"Domestic data was encouraging with rising confidence and outlook surveys suggesting that there is increasing buy‐in to the potential success of PM Abe’s policies. This week’s BoJ meeting is expected to prove a non‐event."
“There is better risk/reward elsewhere."