Filed Under:
Forex pairs in this Article » USD/JPY
FXStreet (Guatemala) - FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes that the Yen is headed towards the 100 DMA.

Key Quotes:

"USD/JPY has broken back below 102 and is now flirting with a test of its 100‐day MA at 101.39. Volatility levels have dropped level, suggesting that the USD/JPY move is not risk induced but instead a reflection on going equity weakness and concerns over earnings and the ability for the BoJ to shift to a more aggressive policy in the spring."

"We would not fight the near‐term move; but expect that USD/JPY will eventually turn higher as the BoJ does move towards more aggressive policy. We hold a year‐end target of 109."

"USD/JPY short‐term technicals: mixed— signals shift between buy and sell— suggesting some uncertainty in markets."
comments powered by Disqus