USD/JPY: biased to gains through key 200 DMA – Scotiabank

By FXStreet FXStreet (Guatemala) – Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that Monday’s gains in USD/JPY were remarkably muted, failing above 120.50.

Key Quotes:

“Momentum indicators are neutral and trend signals are absent. We remain biased to gains above the 200 day MA 120.89 but acknowledge the potential for decline as observed with Friday’s short-lived plunge below 119.00.”
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Source:: FX Street