USD/JPY: eyes on Iran and Trump's announcements at 1800GMT- Scotiabank

Analysts at Scotiabank explained that the JPY appears well supported, rising for a fourth consecutive session with a modest extension of last week’s bullish reversal. 

Key Quotes:

"The broader tone is supportive as market participants assess Fed Gov. Powell’s latest speech and consider the near-term risks surrounding President Trump’s announcement on the future of the Iran deal (2pm ET). 

"JPY’s risk profile leaves it vulnerable to continued near-term strength vs. both the USD and EUR."

"EURJPY has cleared 130 and appears set to break the 2018 low from late March, opening up the risk of a push to levels last seen in late August."