23 Sep 2015
USD/JPY onthe front foot fundamentally - Scotiabank
FXStreet (Guatemala) - Analysts at Scotiabank explained that Japan's deputy Economy Minister Nishimura suggested that China's slowdown may delay Japan's return to price stability.
Key Quotes:
"The BoJ's 2% inflation target by next September looked a distant prospect any way so the comments may reflect a little more political leverage on the BoJ to consider further easing steps at the late October policy meeting."
"USD/JPY short‐term technicals: Pressure for a break out of the August/September consolidation range is building. Short‐term gains through 120.30 will put USDJPY on track for a test of the 121 area."
Key Quotes:
"The BoJ's 2% inflation target by next September looked a distant prospect any way so the comments may reflect a little more political leverage on the BoJ to consider further easing steps at the late October policy meeting."
"USD/JPY short‐term technicals: Pressure for a break out of the August/September consolidation range is building. Short‐term gains through 120.30 will put USDJPY on track for a test of the 121 area."