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USD/JPY: bullish on fundamentals - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Scotiabank explained that JPY is quiet, having traded within a remarkably tight range since the December 24 close.

    Key Quotes:

    "Fundamentals are bearish (USD/JPY bullish) as we consider the continued widening in 2Y yield spreads, trading above 110bpts to levels last seen in 2008.

    Meanwhile, options prices suggest a continued rise in demand for protection against JPY gains (USD/JPY downside).

    The tentative nature of the broader market tone is one in which JPY remains vulnerable to short-lived, haven-driven gains."
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