USD/JPY: cautiously bearish – Scotiabank

By FXStreet Analysts at Scotiabank explained the technical conditions surrounding the Yen.

Key Quotes:

“USD/JPY short-term technicals: bearish, with caution.”

“Bearish momentum signals have softened, and bearish trend indicators are showing signs of stabilization.

USD/JPY is flirting with a break of its 9 day MA (114.69), beyond which we look to the Feb 10 open above 115.00 and the Feb 5 doji near 116.80. Support is expected at 113.20.”
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Source:: FX Street