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4 Jun 2014
USD/JPY bullish and building - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the earlier shift higher in US‐JN 2‐year yields and equity markets helped support USD/JPY.
Key Quotes
"The broader picture for USD/JPY is that it continues to trade within its six month range of 100.76 to 104.13. We hold a quarter end forecast of 104 and a year‐end target of 109."
"USD/JPY short‐term technicals: Bullish and building—for near‐term traders it is an opportunity to go long looking for a test of 103.12; but for medium term traders USD/JPY continues to trade in a range."
Key Quotes
"The broader picture for USD/JPY is that it continues to trade within its six month range of 100.76 to 104.13. We hold a quarter end forecast of 104 and a year‐end target of 109."
"USD/JPY short‐term technicals: Bullish and building—for near‐term traders it is an opportunity to go long looking for a test of 103.12; but for medium term traders USD/JPY continues to trade in a range."