USD/JPY technical are mixed; expect more ranging - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank notes details around the USD/JPY price action and influencing conditions in the market place.

Key Quotes

"Downside bias—Expect weekly range to fall between 100.84 and 102.57 (the May 21st low to last week’s high)."

"USD/JPY is retracing yesterday’s risk aversion induced strength; trading in a narrow range. News flow was relatively light. Technicals are fairly mixed; all of which suggest that USD/JPY is likely range bound for now."