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Forex pairs in this Article » EUR/USD, USD/JPY
FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ said USD/JPY should be supported around 101.00 while markets are taking a breather on an less eventful past couple of sessions.

Key Quotes

"Financial market volatility did not spike dramatically in response to the employment report and the Yellen testimony. US budget debt-ceiling has been suspended until March 2015 while the emerging markets turmoil has eased."

"The Japan CGPI(Corporate price index) as of January was 2.4% yoy which is weaker than previous 2.5% as of December, 2.6% as of November. The inflationary pressure in Japan has been the main driver of yen depreciation since Abenomics was launched and the market may want to wait and see how Japan economy evolves."

"Real GDP data for Q4 will be released next week and that should confirm some pick-up in growth from the 0.3% Q/Q gain in Q3. Foreign investors sold 751.9 billion Japanese stocks in week ending 31 January and these less favourable market conditions suggest limited yen selling will materialize while below 101.00 should offer solid support."
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