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18 Mar 2015
USD/JPY risks a test of 120.50 – Scotiabank
FXStreet (Barcelona) - With USD/JPY breaking below the 9day MA at 121.23, Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank views that the pair risks a move lower.
Key Quotes
“USDJPY is under modest pressure, weighed by a broader tone of risk aversion ahead of the Fed.”
“The recent consolidation has been notable, with movement generally limited between 121.00 and 121.50.”
“Modestly bullish momentum indicators are softening, and USDJPY has broken below its 9 day MA (121.23), increasing the risk of a test to 120.50 followed by 120.00.”
Key Quotes
“USDJPY is under modest pressure, weighed by a broader tone of risk aversion ahead of the Fed.”
“The recent consolidation has been notable, with movement generally limited between 121.00 and 121.50.”
“Modestly bullish momentum indicators are softening, and USDJPY has broken below its 9 day MA (121.23), increasing the risk of a test to 120.50 followed by 120.00.”