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USDJPY technicals: Upside risks building - Scotia Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Bali) - Shaun Osborne, Chief FX Strategist at Scotia Bank, notes that upside risk are building for USD/JPY.

    Key Quotes

    "Risks are shifting following the completion of last week’s three-candle ‘morning star’ reversal pattern."

    "The formation is suggestive of upside risk, and we look to further gains with the potential for a break above the 9 day MA at 119.63."
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