28 Apr 2015
USD/JPY trapped in a narrow range – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that USD/JPY continues to remain its broader range, and risks a move lower towards 116 levels.
Key Quotes
“USDJPY traded in a narrow 26 point range during the Asian and European sessions leading into tomorrow’s holiday (and next week’s holiday week). Retail sales were soft (and ignored by FX markets) falling –9.7%y/y and –1.9%m/m.”
“USDJPY continues to trade within a broader range, setting direction for broad currency markets. In this environment of broad USD weakness, the risk is a test back towards USDJPY’s January lows with a 116 handle.”
Key Quotes
“USDJPY traded in a narrow 26 point range during the Asian and European sessions leading into tomorrow’s holiday (and next week’s holiday week). Retail sales were soft (and ignored by FX markets) falling –9.7%y/y and –1.9%m/m.”
“USDJPY continues to trade within a broader range, setting direction for broad currency markets. In this environment of broad USD weakness, the risk is a test back towards USDJPY’s January lows with a 116 handle.”