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13 Aug 2014
USD/JPY technicals mixed - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the quiet conditions surrounding the USD/JPY.
Key Quotes:
"JPY is relatively quiet, still trading within its recent range as the market looks to tomorrow’s preliminary release of Q2 GDP, expected to contract a shocking 1.8%q/q and –7.0%q/q annualized as the impact of the consumption tax flow through the economy”.
“All in all, USD/JPY has traded in a relatively narrow range. Technicals are mixed highlighting the range trading nature of USD/JPY in the current environment."
Key Quotes:
"JPY is relatively quiet, still trading within its recent range as the market looks to tomorrow’s preliminary release of Q2 GDP, expected to contract a shocking 1.8%q/q and –7.0%q/q annualized as the impact of the consumption tax flow through the economy”.
“All in all, USD/JPY has traded in a relatively narrow range. Technicals are mixed highlighting the range trading nature of USD/JPY in the current environment."