USD/JPY: approaching the 21 DMA - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at Scotiabank noted the current strength in the Yen but suggest it is limited while USD/JPY heads towards 21 DMA.

    Key Quotes:

    "We maintain a forecast of fundamentally-driven JPY weakness (USD/JPY) on the back of relative central bank policy however we acknowledge the potential for short-lived JPY gains in periods of risk aversion.

    "USD/JPY has broken below its 9 day MA (122.95), on approach of the 21 day MA (122.26). Momentum indicators hint to a shift in the balance of risks, and trend signals are providing confirmation."
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