USD/JPY favouring the downside – Scotiabank

FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, shares that technicals suggest USD/JPY favours the downside, and might move towards 115.57 on a break below 116.93 levels.

Key Quotes

“USDJPY continues to trade within its 7‐session 116.93 to 118.87 range, limited by risk aversion and fundamentals. News flow was relatively light.”

“Technically, USDJPY looks to favour downside, with a break of 116.93 likely to open up risk down to the December low of 115.57.”