FXStreet (Guatemala) - Eric Theoret, Currency Strategist at Scotiabank notes that the JPY is weak and explains the conditions surrounding the USD/JPY but highlights bullish signals.



Key Quotes



"JPY is also weak, though somewhat supported by short-term technical”.



“Overnight releases are likely to weigh on the BoJ as they consider deteriorating employment data and softer retail sales—highlighting the lingering impact of the April tax hike and one of the key concerns underscored by BoJ board member Ishida in an overnight speech, in which he said he was paying ‘close attention’ to consumer spending and exports."



"USD/JPY short-term technicals: bullish—momentum indicators are suggestive of acceleration as a break of the 50 day MA shifts the focus to 102.00 resistance and a potential test of the 200 day MA (102.10) for the first time since early July."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Video: AUDUSD, GBPUSD and USDJPY Better Trade Options Than EURUSD

  2. Forex News

    Global Equity Markets Look Unsettled, China Is Tumbling

  3. Forex News

    USD/JPY supported at 122.60

  4. Forex News

    USD/JPY drops to 122.60

  5. Forex News

    USD/JPY: Will Yen find love on safe haven appeal?

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!