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4 Feb 2016
USD/JPY eyes 110.00 in the next weeks – TDS
FXStreet (Edinburgh) - USD/JPY could be headed towards the 110.00 hanlde in the next weeks, according to Strategist at TD Securities Ned Rumpeltin.
Key Quotes
“For USDJPY, we continue to target a move down to 110 in the weeks ahead as the BoJ’s recent rate cut into negative territory has rapidly lost its punch”.
“A break below the mid-Jan low at 115.98 would significantly increase our confidence that the next phase of the move lower was underway as 119.42 should provide a firm backstop”.
Key Quotes
“For USDJPY, we continue to target a move down to 110 in the weeks ahead as the BoJ’s recent rate cut into negative territory has rapidly lost its punch”.
“A break below the mid-Jan low at 115.98 would significantly increase our confidence that the next phase of the move lower was underway as 119.42 should provide a firm backstop”.