20 Jan 2015
USD/JPY top heavy, supported at 116.50 – OCBC Bank
FXStreet (Edinburgh) - In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, USD/JPY would remain bullish bolstered by USD momentum.
Key Quotes
“The pair may continue to draw inference from the broad dollar tone as well as risk appetite developments in the near term”.
“We stay top heavy for now with the 55-day MA (118.29) expected to serve as a first resistance while initial support is expected on dips towards 116.50”.
Key Quotes
“The pair may continue to draw inference from the broad dollar tone as well as risk appetite developments in the near term”.
“We stay top heavy for now with the 55-day MA (118.29) expected to serve as a first resistance while initial support is expected on dips towards 116.50”.