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16 Mar 2015
USD/JPY consolidates ahead of BoJ – Scotiabank
FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, notes that near-term risks for USD/JPY lies with the BoJ policy decision, with the pair currently consolidating.
Key Quotes
“USDJPY is quiet, consolidating around recent congestion at 121.20.”
“Near term risk for JPY lies with the BoJ policy decision, however this week’s focus remains centered on the FOMC and the broader theme of policy divergence between the Fed and BoJ.”
“USDJPY short-term technicals: bullish—broad agreement among both trend and momentum indicators. RSI at 66 is relatively muted, providing ample space for further gains. Await sustained break of 122.00.”
Key Quotes
“USDJPY is quiet, consolidating around recent congestion at 121.20.”
“Near term risk for JPY lies with the BoJ policy decision, however this week’s focus remains centered on the FOMC and the broader theme of policy divergence between the Fed and BoJ.”
“USDJPY short-term technicals: bullish—broad agreement among both trend and momentum indicators. RSI at 66 is relatively muted, providing ample space for further gains. Await sustained break of 122.00.”