USD/JPY consolidating in range – Scotiabank

FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, notes that USD/JPY consolidation continues, with tone offsetting broader USD.

Key Quotes

“JPY is flat, consolidating vs the USD as a result of offsetting dynamics, with risk aversion helping to counter the broader USD performance.”

“Near term risk centers on the release of domestic current account data, as well as the broader tone arising from China’s activity figures.”

“JPY technicals remain neutral, given ongoing consolidation between 118.50 and 120.50.”