USD/JPY technical turning increasingly bearish - Scotiabank

By FXstreet.com | July 10, 2014 AAA

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



Key Quotes



"Risk aversion in markets, caused by geopolitical risks as well as a deceleration in the potential Q2 growth for China and Europe has supported the currency”.



“We would not expect a break of the recent USD/JPY lows of 100.76; however downside pressure is clearly building with technicals turning increasingly bearish."



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