USD/JPY expected to be supported near 120.50 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 29, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - Occasional pullbacks in the pair are seen well contained around the mid-120.00s ahead of the 120.00 handle.

    Key Quotes

    “This morning, a surprise jump Japan’s Sep industrial production (+1.0% mom) caused the USD-JPY to relapse lower but the flattening of the US curve and resultant pull from the interest differential front (and impetus from the option front) may ensure a market reluctance to test the downside excessively”.

    “The 55-day MA (120.51) and 120.00 floor may cushion ahead of the BOJ MPC tomorrow”.
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