FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank noted that this week’s domestic releases are relatively limited, with the mid-week Tankan release in focus.
Key Quotes:
"JPY fundamentals are weak and we maintain a view to medium-term decline however we acknowledge the ongoing potential for short-term gains driven by recurring periods of risk aversion."
"USD/JPY short-term technicals: neutral—momentum signals are conflicted and recent movement has been range bound—roughly between 119.00 and 121.20. USD/JPY has not closed above its 200 day MA (120.90) since August."
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