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14 May 2015
USD/JPY consolidation continues – Scotiabank
FXStreet (Barcelona) - Eric Theoret, CFA, CMT, Currency Strategist at Scotiabank, mentions that USD/JPY continues to consolidate, awaiting a break from the 118.50-120.50 range.
Key Quotes
“JPY is quiet, softening modestly as it retreats from a fresh two-week high. Softened domestic machine tool orders have been disregarded in favor of broader developments, specifically the USD.”
“Wednesday’s close below the 100 day MA (119.34) was notable and we remain focused on the month-long range between 118.50 and 120.50.”
Key Quotes
“JPY is quiet, softening modestly as it retreats from a fresh two-week high. Softened domestic machine tool orders have been disregarded in favor of broader developments, specifically the USD.”
“Wednesday’s close below the 100 day MA (119.34) was notable and we remain focused on the month-long range between 118.50 and 120.50.”