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USD/JPY: 120.00 to break? - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist noted the conditions surrounding USD/JPY in these holiday markets.

    Key Quotes:

    "Yen appears vulnerable to haven-driven gains in an environment of elevated uncertainty, as we note its divergence from fundamental drivers (relative policy & 2Y yield spread) and look to the steady demand for protection against gains (USD/JPY downside) as risk reversals drop to fresh two-week lows."

    "Near term risk lies with the broader tone and the potential for a break in USD/JPY below 120.00."
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