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

By FXstreet.com | 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.



comments powered by Disqus
Related Forex Analysis
  1. Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...
    Forex News

    Weekly Trading Forecast: FX Traders Prepare for Heavy Volatility on FOMC, GDP and ...

  2. USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing
    Forex News

    USD/JPY to Eye Fresh Highs on Less-Dovish FOMC, More BOJ Easing

  3. Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends
    Forex News

    Trading Video: EURUSD Traders Buckle Up for FOMC, ECB Stress Tests, Risk Trends

  4. USD/JPY anchored on 108 handle
    Forex News

    USD/JPY anchored on 108 handle

  5. USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting
    Forex News

    USD/JPY Remains Capped by Former Support Ahead of FOMC, BoJ Meeting

Trading Center