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USD/JPY upside limited by 121.70 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair’s upside could be limited by the 121.70 area for the time being.

    Key Quotes

    “The USD-JPY may continue to hover within sight of its 200- day MA (121.00) pending further Fed/BOJ cues this week with 121.70 likely to limit on the upside while 120.70 and the 55-day MA (120.64) region is expected to offer near term support”.

    “Coupled with a still sanguine risk appetite environment, investors may attempt to collect into dips at this juncture”.
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