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

By FXstreet.com | Updated July 30, 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."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Changes in Monetary Policy Standings this Week Can Generate Huge FX Trends

  2. Forex News

    BoJ to maintain bullish stance - GS

  3. Forex News

    USD/JPY Continues to Carve Lower-Highs Despite Japan Ratings Cut

  4. Forex News

    USD/JPY retreats toward 119.00

  5. Forex News

    US Dollar Tests Key Support on Big Week for FX Markets

Trading Center