19 Dec 2014
USD/JPY: heading to 121.85? - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the conditions surrounding the Yen post yesterday’s BoJ.
Key Quotes:
"JPY has softened; with USD/JPY now back above 119.00. The BoJ sees a moderate recovery."
"Governor Kuroda stayed true to his recent tone; decline to comment on the level of FX but highlighting that it is desirable for FX markets to move in a stable manner. Next week, the BoJ will release a slew of data, including inflation, where headline CPI is expected to fall to 2.5% and core to fall to 2.1%."
"USD/JPY short‐term technicals: mixed—with spot warning of a potential test back up to 120, where a break above would open up a test to the recent high of 121.85."
Key Quotes:
"JPY has softened; with USD/JPY now back above 119.00. The BoJ sees a moderate recovery."
"Governor Kuroda stayed true to his recent tone; decline to comment on the level of FX but highlighting that it is desirable for FX markets to move in a stable manner. Next week, the BoJ will release a slew of data, including inflation, where headline CPI is expected to fall to 2.5% and core to fall to 2.1%."
"USD/JPY short‐term technicals: mixed—with spot warning of a potential test back up to 120, where a break above would open up a test to the recent high of 121.85."