6 Mar 2015
USD/JPY near-term risk towards 121.85 – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that with risk aversion easing and USD on way to another bullish run, the near-term risks for USD/JPY lie for a re-test of 121.85 levels.
Key Quotes
“USDJPY traded in a relatively tight range with all the action taking place in EURJPY, which is driving towards fresh lows.”
“With risk aversion having eased from its January highs, fundamentals having failed to improve and the USD appearing to embark on a new leg higher; we see the near‐term risk for USDJPY as a test up to its ytd highs of 121.85.”
Key Quotes
“USDJPY traded in a relatively tight range with all the action taking place in EURJPY, which is driving towards fresh lows.”
“With risk aversion having eased from its January highs, fundamentals having failed to improve and the USD appearing to embark on a new leg higher; we see the near‐term risk for USDJPY as a test up to its ytd highs of 121.85.”