7 May 2015
USD/JPY: bearish bias for the next week – BTMU
FXStreet (Barcelona) - The Bank of Tokyo-Mitsubishi UFJ Team maintains a bearish bias for USD/JPY for the next week, expecting the pair to remain in the 117.50-121.00 range.
Key Quotes
“Recent US data releases have weighed on the US dollar. Still USD/JPY has been supported by the lingering JPY selling flows of Japanese investors and companies. A weak non-farm payroll report would increase downside risks for USD/JPY.”
“The weaker data may break support for USD/JPY at 118.00-level. Yet, Japanese companies and investors may limit the downslide for USDJPY near the 117.00-level.”
“In contrast, if the non-farm payroll report proves better than expected it will support the US dollar although upside beyond the 120.00-level may prove limited.”
“USD/JPY – Bearish Bias – (117.50-121.00)”
Key Quotes
“Recent US data releases have weighed on the US dollar. Still USD/JPY has been supported by the lingering JPY selling flows of Japanese investors and companies. A weak non-farm payroll report would increase downside risks for USD/JPY.”
“The weaker data may break support for USD/JPY at 118.00-level. Yet, Japanese companies and investors may limit the downslide for USDJPY near the 117.00-level.”
“In contrast, if the non-farm payroll report proves better than expected it will support the US dollar although upside beyond the 120.00-level may prove limited.”
“USD/JPY – Bearish Bias – (117.50-121.00)”