28 Apr 2014
USD/JPY bearish - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted that the JPY is trading in Fridays range with a bearish bias.
Key Quotes:
"JPY is soft, down 0.1% but trading within Friday’s range. There was a limited reaction to stronger than expected retail sales, that rose 11% y/y and 6.3%m/m. This week's focus will be the BoJ’s release of economic projections, which provide clues as to how the central bank sees the evolving economic outlook."
"USD/JPY short‐term technicals: bearish however the signals are not strong and spot is more likely range bound."
Key Quotes:
"JPY is soft, down 0.1% but trading within Friday’s range. There was a limited reaction to stronger than expected retail sales, that rose 11% y/y and 6.3%m/m. This week's focus will be the BoJ’s release of economic projections, which provide clues as to how the central bank sees the evolving economic outlook."
"USD/JPY short‐term technicals: bearish however the signals are not strong and spot is more likely range bound."