USD/JPY is consolidating recovery from range low – Scotiabank
|The Japanese Yen (JPY) is also trading flat against the US Dollar (USD) and consolidating its recent recovery from the lower end of its recent range, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
USD/JPY to push to the lower end of the recent 142- 148.50 range
"The passing of election risk has shifted the focus back to fundamentals and the upcoming BoJ policy decision on July 31. The near-term balance of risk favors JPY strength as we look to the possibility of an improvement in the BoJ’s tone and its assessment of the outlook."
"US/Japan talks are ongoing and negotiators have meet 8 times since talks began in April. For USDJPY, we remain bearish looking to a push to the lower end of the recent 142- 148.50 range."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.