Analysts at Scotiabank explained that JPY is underperforming all of the G10 currencies in an environment of mild risk appetite and broad-based USD weakness. Key Quotes: “The broader tone remains dominant and JPY appears to have softened modestly in response to the release of softer than expected industrial production data.” “Yield spreads are extending their recent reversal, widening modestly in a JPY-negative manner.” “Risk reversals are also showing signs of a turn, softening from relatively extended levels””though still pricing a sizeable premium for protection against JPY strength.” “For USDJPY, we await a clear break of 109.00 and note the absence of any significant resistance ahead of the 200 day MA at 110.20. Near-term EURJPY resistance appears limited ahead of 129.20.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP to head lower on relative rates – Danske Bank FX Street 5 years Analysts at Scotiabank explained that JPY is underperforming all of the G10 currencies in an environment of mild risk appetite and broad-based USD weakness. Key Quotes: "The broader tone remains dominant and JPY appears to have softened modestly in response to the release of softer than expected industrial production data." "Yield spreads are extending their recent reversal, widening modestly in a JPY-negative manner." "Risk reversals are also showing signs of a turn, softening from relatively extended levels"”though still pricing a sizeable premium for protection against JPY strength." "For USDJPY, we await a clear break of 109.00 and note the absence… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
