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Oct 14, 2015
USD/JPY: death cross on daily chart imminent - Scotiabank
Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that this week’s modest, steady gains in JPY hint to a shift in relative policy expectations rather than a sensitivity broader market sentiment, the latter typically providing for violent knee-jerk reactions in JPY rather than the steady gains observed over the past three sessions.
Following a short-lived pullback, EUR/USD resumed the rise and is back trading at the upper side of today’s range, as investors continue to assess a string of disappointing US data, which fueled concerns the Fed might have to wait longer before raising rates.