USD/JPY: below 116 targets Dec 2014 low of 115.57 - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that USD/JPY’s decline to fresh-one year lows has not been confirmed by momentum, providing for positive divergence.

    Key Quotes:

    "USD/JPY’s recent attempt at stabilization failed to make a material break above the 9 day MA (117.43), underscoring its importance as a near-term level of resistance. Near-term support has been observed around 116.00, beyond which we look to the Dec 2014
    low 115.57."
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