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22 Apr 2014
USD/JPY comfortable between 50-100 DMA - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the USD/JPY price action.
Key Quotes:
"USD/JPY is flat, trading comfortably between its 50 and 100‐day MA (102.39 to 102.96, respectively). News flow was relatively subdued, with leading indicators rising modestly to 108.9 and some focus on the restructuring at GPIF."
"USD/JPY short‐term technicals: mixed and lacking conviction as USD/JPY trades within a broad range. For USD/JPY upside to gain momentum it would need to break above the open from April 8th at 103.10."
Key Quotes:
"USD/JPY is flat, trading comfortably between its 50 and 100‐day MA (102.39 to 102.96, respectively). News flow was relatively subdued, with leading indicators rising modestly to 108.9 and some focus on the restructuring at GPIF."
"USD/JPY short‐term technicals: mixed and lacking conviction as USD/JPY trades within a broad range. For USD/JPY upside to gain momentum it would need to break above the open from April 8th at 103.10."