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USD/JPY upside appears limited at 120.00 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair’s upside might struggle to overcome 120.00 in the near term.

    Key Quotes

    USD dynamics may continue to guide the USD-JPY in the near term despite the BOJ leaving unchanged its fairly sanguine outlook across the domestic regions”.

    “Look to the scheduled appearance by the Fed’s Yellen (1500 GMT) for immediate cues. In the interim, 120.00 may cap initial moves higher with support seen towards 118.90”.
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