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USD/JPY: downside keeps playing out - Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at Scotiabank explained that JPY is outperforming, rallying for a third consecutive session to test fresh one-year closing highs as it climbs toward the short-lived intraday highs from October 15 and August 24.

    Key Quotes:

    "The current environment of elevated uncertainty and risk aversion is supportive for JPY given its role as a safe-haven currency, and measures of sentiment are providing confirmation as risk reversals hint to greater demand for protection against further JPY gains. Near-term risk remains biased to the upside."
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