FXStreet (Guatemala) - Analysts at Scotiabank explained that JPY is down, its modest decline driven by the improvement in risk appetite following Friday’s disappointing U.S. employment data.
Key Quotes:
"Domestic risk for JPY is elevated this week as we look to Tuesday’s BOJ with a shift in tone that could pave the way for rumored action at the late October meeting."
"USD/JPY short-term technicals: neutral—we note the conflicted signals provided by momentum indicators and consider the recent climb from last week’s doji’s just below 120."
"Friday’s downside break of the recent range highlights an ongoing vulnerability for USDJPY, however we remain biased to gains."
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