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USD/JPY keeps the neutral bias near term – BTMU

FXStreet (Edinburgh) - Analysts at BTMU have noted the neutral bias of the pair in the very near term.

Key Quotes

“The risk off sentiment supported yen buying. Next week, lingering bearish sentiment may continue to weigh modestly on USD/JPY”.

“The release of the September BoJ Tankan survey will be watched closely for any further signs of weakening growth momentum in Japan which could weigh on the yen by building expectations for further BoJ easing”.

“The headline of Tankan business condition may be weak as the data was gathered amidst recent heightened concerns over slowing growth in China. However, the BoJ has been keen to assess domestic price recovery momentum”.

“The combination of weakening domestic growth momentum and building BoJ easing expectations are helping to offset support for the yen from more risk-averse global trading conditions in the near-term”.

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