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14 Mar 2014
Flash: JPY outpeferforming, 100.76 sighted - Scotiabank
FXStreet (Guatemala) - Eric Theoret, Currency Strategist at Scotiabank noted that JPY is outperforming.
Key Quotes:
"The BoJ minutes release highlighted policymakers discussion toward the balance of risks, highlighting less concerns about the downside risks to overseas economies. However, the primary driver for JPY likely remains the looming geopolitical risk."
"USD/JPY short-term technicals: bearish—MACD has turned bearish, joining a falling RSI at 39. Near term focus is March 3 low at 101.20 followed by multi-month Feb 4 low at 100.76."
Key Quotes:
"The BoJ minutes release highlighted policymakers discussion toward the balance of risks, highlighting less concerns about the downside risks to overseas economies. However, the primary driver for JPY likely remains the looming geopolitical risk."
"USD/JPY short-term technicals: bearish—MACD has turned bearish, joining a falling RSI at 39. Near term focus is March 3 low at 101.20 followed by multi-month Feb 4 low at 100.76."