USD/JPY vulnerable to upside risk – Scotiabank

FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that USD/JPY is stable and trading closer to its highs, with risks tilted to the upside.

Key Quotes

“USDJPY is stable, having failed for the last three sessions to break above its recent high. The chart pattern suggests some hesitancy to push higher; however as long as volatility remains contained and the broad USD trend is in place, USDJPY is vulnerable to ongoing upside risk.”