16 Dec 2014
USD/JPY turning increasingly bearish – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, anticipates USD/JPY to test down to 50-day MA at 113.93 as the pair turns increasingly bearish.
Key Quotes
“JPY is strong, having rallied to fresh one month highs. USDJPY is re-acting to a spike in risk aversion. The market ignored a slight improvement in manufacturing, with the Markit flash PMI rising to 52.1."
"Technically, USDJPY is turning increasingly bearish. Should risk aversion continue, USDJPY is likely to fall towards the 50-day MA at 113.94.”
Key Quotes
“JPY is strong, having rallied to fresh one month highs. USDJPY is re-acting to a spike in risk aversion. The market ignored a slight improvement in manufacturing, with the Markit flash PMI rising to 52.1."
"Technically, USDJPY is turning increasingly bearish. Should risk aversion continue, USDJPY is likely to fall towards the 50-day MA at 113.94.”