Yen off highs while EUR/JPY has room to run - Scotia

By FXstreet.com | Updated August 26, 2014 AAA

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained conditions surround the Yen and EUR/JPY.



Key Quotes:



"USD/JPY is off its recent highs of 104.49 and has traded back below 104. There are reports on Reuters that the BoJ is likely to decrease its GDP forecast but that impact of the consumption tax is beginning to moderate."



"However any such shift is still months away. EUR/JPY is drifting lower, but is well off its recent 138.91 lows; while technicals warn of EUR/JPY upside risk.



You May Also Like

Related Forex Analysis
  1. USD/JPY consolidates below 118.00
    Forex News

    USD/JPY consolidates below 118.00

  2. JPY stronger into the open - Scotiabank
    Forex News

    JPY stronger into the open - Scotiabank

  3. Weak GDP shall trigger a correction in USD – FXStreet
    Forex News

    Weak GDP shall trigger a correction in USD – FXStreet

  4. USD/JPY hovering over 118.00
    Forex News

    USD/JPY hovering over 118.00

  5. EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC
    Forex News

    EUR/USD Breaks Channel from November Low, AUD/USD Skewed by PBoC

Trading Center