26 Jan 2015
USD/JPY to remain range-bound – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, anticipates that USD/JPY may keep trading in the 116.93-118.87 range in the short-term.
Key Quotes
“USDJPY is relatively stable, trading within its five session range of 116.93 to 118.87. The trade balance narrowed, as exports were stronger than expected, rising 12.9%y/y and imports slightly softer at 1.9%y/y. Thursday’s release of CPI is this week’s most important domestic release.”
“USDJPY short‐term technicals: bearish—but studies lack conviction, leaving the over arching theme as range bound for USDJPY.”
“Support lies at the recent low of 116.93; while resistance lies at 118.87 followed by the psychologically important 120.”
Key Quotes
“USDJPY is relatively stable, trading within its five session range of 116.93 to 118.87. The trade balance narrowed, as exports were stronger than expected, rising 12.9%y/y and imports slightly softer at 1.9%y/y. Thursday’s release of CPI is this week’s most important domestic release.”
“USDJPY short‐term technicals: bearish—but studies lack conviction, leaving the over arching theme as range bound for USDJPY.”
“Support lies at the recent low of 116.93; while resistance lies at 118.87 followed by the psychologically important 120.”