23 Feb 2016
USD/JPY: bearishg bias - FXStreet
Ani Salama, economist at FXStreet noted the conditions surrounding USD/JPY in the US session.
Key Quotes:
"USD/JPY fell sharply during the Asian session as the yen advanced after BoJ governor Kuroda expressed further doubts about their QQE programme’s ability to raise prices.
The negative tone in stock markets fueled JPY strength and sent USD/JPY below the 112.00 level to an 11-day low of 111.77 before finding support.
USD/JPY has steadied near daily lows over the last hours and even though indicators have lost bearish potential, the downside remains favoured."
Key Quotes:
"USD/JPY fell sharply during the Asian session as the yen advanced after BoJ governor Kuroda expressed further doubts about their QQE programme’s ability to raise prices.
The negative tone in stock markets fueled JPY strength and sent USD/JPY below the 112.00 level to an 11-day low of 111.77 before finding support.
USD/JPY has steadied near daily lows over the last hours and even though indicators have lost bearish potential, the downside remains favoured."