10 Mar 2016
Focus on 115 and 112.20 range - Scotiabank
Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that USD/JPY continues to trade within its one month range bound between 111.00 and 115.00.
Key Quotes:
"USD/JPY also appears to be testing the upper bound of the symmetrical triangle formation from early February. Near term resistance has been observed around 113.80, and a break of 114.00 would shift the focus to 115.00. In terms of support, we look to 112.20."
Key Quotes:
"USD/JPY also appears to be testing the upper bound of the symmetrical triangle formation from early February. Near term resistance has been observed around 113.80, and a break of 114.00 would shift the focus to 115.00. In terms of support, we look to 112.20."