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8 Jan 2015
USD/JPY risks shifting to the upside - Scotiabank
FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank noted the conditions surrounding the Yen.
Key Quotes:
"JPY is weak, retracing some of its recent risk aversion strength but still trading within its month‐long range. Strong equities have helped to push USD/JPY higher; while weekly flow data highlights the ongoing trend of flows away from Japan."
"Accordingly for USD/JPY the near‐term risks are shifting from downside to upside. The key for USD/JPY will be the path of risk aversion. Today there are early signs that there is some easing in fears; should this continue the risk is a USD/JPY back up to its December highs of 121.85."
Key Quotes:
"JPY is weak, retracing some of its recent risk aversion strength but still trading within its month‐long range. Strong equities have helped to push USD/JPY higher; while weekly flow data highlights the ongoing trend of flows away from Japan."
"Accordingly for USD/JPY the near‐term risks are shifting from downside to upside. The key for USD/JPY will be the path of risk aversion. Today there are early signs that there is some easing in fears; should this continue the risk is a USD/JPY back up to its December highs of 121.85."