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.
"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."