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9 Dec 2014
USD/JPY giving into global risk factors - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank has noted that JPY is strong and supported by an increase in risk aversion on the back of building global risks.
“For USD/JPY a close below 119.71, would open p a temporary retracement to 117.71."
Key Quotes
"Economic data was relatively light and expected to remain so this week. The focus is increasingly on the weekend election; where PM Abe is expected to maintain an important majority”.
"USD/JPY short‐term technicals: mixed—the drop in spot is shifting the technical outlook; a close below 119.71, opens up a period of retracement, bringing 117.71 into light. Near term support lies at 119.00, while resistance lies at the recent high of 121.85."
“For USD/JPY a close below 119.71, would open p a temporary retracement to 117.71."
Key Quotes
"Economic data was relatively light and expected to remain so this week. The focus is increasingly on the weekend election; where PM Abe is expected to maintain an important majority”.
"USD/JPY short‐term technicals: mixed—the drop in spot is shifting the technical outlook; a close below 119.71, opens up a period of retracement, bringing 117.71 into light. Near term support lies at 119.00, while resistance lies at the recent high of 121.85."