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Focus on 115 and 112.20 range - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that USD/JPY continues to trade within its one month range bound between 111.00 and 115.00.

    Key Quotes:

    "USD/JPY also appears to be testing the upper bound of the symmetrical triangle formation from early February. Near term resistance has been observed around 113.80, and a break of 114.00 would shift the focus to 115.00. In terms of support, we look to 112.20."
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