JPY strong on risk aversion- Scotiabank

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the strength of the JPY.



Key Quotes



"JPY is strong, but still trading within its six‐session range. The shift has been on the back of rising risk aversion."



"The major risk for USD/JPY continues to be risk aversion with Friday’s BoJ likely to prove uneventful. Technically, support lies at the 200‐day MA of 102.25 followed by the July 30th open of 102.12."



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