USD/JPY technical are mixed; expect more ranging - Scotiabank

By FXstreet.com | June 17, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes details around the USD/JPY price action and influencing conditions in the market place.



Key Quotes



"Downside bias—Expect weekly range to fall between 100.84 and 102.57 (the May 21st low to last week’s high)."



"USD/JPY is retracing yesterday’s risk aversion induced strength; trading in a narrow range. News flow was relatively light. Technicals are fairly mixed; all of which suggest that USD/JPY is likely range bound for now."



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing
    Forex News

    USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing

  3. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  4. USD/JPY anchored on 108 handle
    Forex News

    USD/JPY anchored on 108 handle

  5. USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting
    Forex News

    USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting

Trading Center