USD/JPY: below 116 targets Dec 2014 low of 115.57 – Scotiabank

By FXStreet FXStreet (Guatemala) – Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that USD/JPY’s decline to fresh-one year lows has not been confirmed by momentum, providing for positive divergence.

Key Quotes:

“USD/JPY’s recent attempt at stabilization failed to make a material break above the 9 day MA (117.43), underscoring its importance as a near-term level of resistance. Near-term support has been observed around 116.00, beyond which we look to the Dec 2014
low 115.57.”
For more information, read our latest forex news. …read more

Source:: FX Street