Analysts at Scotiabank explained that the broader tone remains dominant and the near-term balance of risk appears set to favor JPY weakness as we look to an unwind of its recent safe-haven gains. Key Quotes: “Yield spreads are once again widening in a JPY-bearish manner and risk reversals appear somewhat extended pricing a sizeable premium for protection against JPY strength.” “EURJPY has bounced off of support just below 125 and the USDJPY candles have ‘hammered’ a closing low.” “Domestically, retail sales data were stronger than expected and their release appeared to coincide with the early Asian session turn in JPY.” “Japan releases industrial production data at 7:50pm ET.” 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 Moody’s reviews Italian banks for downgrade FX Street 5 years Analysts at Scotiabank explained that the broader tone remains dominant and the near-term balance of risk appears set to favor JPY weakness as we look to an unwind of its recent safe-haven gains. Key Quotes: "Yield spreads are once again widening in a JPY-bearish manner and risk reversals appear somewhat extended pricing a sizeable premium for protection against JPY strength." "EURJPY has bounced off of support just below 125 and the USDJPY candles have 'hammered' a closing low." "Domestically, retail sales data were stronger than expected and their release appeared to coincide with the early Asian session turn in… 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.
