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USD/JPY: a Relief to Japanese Policy Makers - Scotiabank
Analysts at Scotiabank noted the recent bid conditions surrounding USD/JPY onto the 109 handle this week.
Key Quotes:
"Local
policy makers will be relieved that the JPY has softened near-term but
investors will be keeping one eye on domestic economic developments to
assess the impact of the weekend earthquakes on growth and another
policy prospects as the BoJ meets at the end of the month."
"USD/JPY
short-term technicals: neutral/bullish—short-term trends are looking a
little more constructive for USDJPY. The rebound from the 108 area may
extend if spot can rally through 109.70/75 resistance (a rough,
107.70/90 double bottom trigger)."
