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12 Mar 2014
Flash: USD/JPY short-term bullish bias - Scotiabank
FXStreet (Guatemala) - Eric Theoret, Currency Strategist at Scotiabank explained that JPY is outperforming on the back of China-related global growth concerns impacting risk appetite.
Key Quotes
" JPY is outperforming on the back of China-related global growth concerns impacting risk appetite....Softer domestic data—corporate goods prices, consumer confidence— have not been sufficient to offset the impact of the broader market tone."
"USD/JPY short-term technicals: bullish to neutral—RSI flirting with break below 50 and bullish MACD is waning. Congestion continues around 50 day MA 102.95. Next key downside level is 100 day MA at 102.22."
Key Quotes
" JPY is outperforming on the back of China-related global growth concerns impacting risk appetite....Softer domestic data—corporate goods prices, consumer confidence— have not been sufficient to offset the impact of the broader market tone."
"USD/JPY short-term technicals: bullish to neutral—RSI flirting with break below 50 and bullish MACD is waning. Congestion continues around 50 day MA 102.95. Next key downside level is 100 day MA at 102.22."