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21 Sep 2015
USD/JPY 200 DMA important - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank noted and explained that a three-day domestic holiday (Mon-Wed) will leave trading in JPY subdued ahead of CPI data scheduled for release toward the end of the week.
Key Quotes:
"We highlight the potential for considerable volatility in response to China’s preliminary private-sector PMI (Tuesday 9:45pm EST)."
"USDJPY short-term technicals: neutral—momentum signals are conflicted, close to neutral. Bearish trend signals are strong. Recent declines below 119.50 have been short-lived (bottom chart), and the 200 day MA (120.86) remains an important level of resistance."
Key Quotes:
"We highlight the potential for considerable volatility in response to China’s preliminary private-sector PMI (Tuesday 9:45pm EST)."
"USDJPY short-term technicals: neutral—momentum signals are conflicted, close to neutral. Bearish trend signals are strong. Recent declines below 119.50 have been short-lived (bottom chart), and the 200 day MA (120.86) remains an important level of resistance."