31 Jan 2014
Flash: USD/JPY short‐term technicals - Scotiabank
FXstreet.com (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank offered USD/JPY short‐term technicals.
"USD/JPY short‐term technicals: bearish—technicals continue to warn of USD/JPY downside, even as spot has traded in a relatively narrow 5‐session range. We favour short USD/JPY positions for near‐term traders; looking for a test down to the 100‐day MA at 101.07, with support beyond there at the all important 100.00 level (just be low the 200‐day MA at 100.06)."
"USD/JPY short‐term technicals: bearish—technicals continue to warn of USD/JPY downside, even as spot has traded in a relatively narrow 5‐session range. We favour short USD/JPY positions for near‐term traders; looking for a test down to the 100‐day MA at 101.07, with support beyond there at the all important 100.00 level (just be low the 200‐day MA at 100.06)."