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