USD/JPY potential bullish triggers ahead - BTMU

By FXstreet.com | July 24, 2014 AAA

FXStreet (Guatemala) - FX Strategists at the Bank of Tokyo Mitsubishi UFJ notes the conditions surrounding the USD/JPY in a less bearish environment.



Key Quotes



"The recent volatility of USD/JPY remains very low. Some geopolitical factors and lower US yields supported JPY buying."



"However, Japanese importers and investors JPY selling pressure was also steady. The USD/JPY trading range is getting narrower."



"USD/JPY volatility is likely to remain dampened until the Fed clearly signals a shift to tighter monetary policy. Looking ahead, the upcoming FOMC meeting, Q2 2014 GDP and non-farm payroll report are key triggers for dollar buying. A pick up in wage growth and higher US T-bill yields may support USD/JPY buying near the 102-level."



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