26 Mar 2015
USD/JPY might remain pressurized as risk aversion rises – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, views that USD/JPY might remain pressurized as risk aversion rises due to the Yemen conflict.
Key Quotes
“JPY is strong, having rallied 0.7% in tandem with oil and CHF, on the back of a spike of risk aversion induced by Saudi Arabia/Yemen. This is likely to put ongoing downward pressure on USDJPY, and opens up a test to of the 23.6% Fibo retracement at 117.02.”
“The core near‐term risk for USDJPY is today’s inflation release (7:30pm EST), which is expected to show a slowing of inflationary pressures.”
Key Quotes
“JPY is strong, having rallied 0.7% in tandem with oil and CHF, on the back of a spike of risk aversion induced by Saudi Arabia/Yemen. This is likely to put ongoing downward pressure on USDJPY, and opens up a test to of the 23.6% Fibo retracement at 117.02.”
“The core near‐term risk for USDJPY is today’s inflation release (7:30pm EST), which is expected to show a slowing of inflationary pressures.”