Scotiabank: USD/JPY turning bearish
Strategists at Scotiabank expect USD/JPY to test the recent 100.76 lows in the near term as the technical indicators are buiding increasingly bearish. However, this level is likely to contain the bearish pressure.
"Risk aversion in markets, caused by geopolitical risks as well as a deceleration in the potential Q2 growth for China and Europe has supported the Japanese currency”, analysts add.
Chart. Daily USD/JPY