2 Jul 2015
USD/JPY: 124.40 might limit upside tests – OCBC
FXStreet (Barcelona) - According to Emmanuel Ng of OCBC Bank, USD/JPY will likely remain in the 124.40-122.00 range in the near-term.
Key Quotes
“The latest BOJ Tankan shows expectations for average CPI inflation unchanged at +1.4% while new BOJ board member Funo also stated that exchange rates are decided by markets. These headlines, together with stable investor risk appetite, make for a supported tone for the USD-JPY.”
“On the top side, 124.40 may limit on initial tests higher while 122.00 and the 55-day MA (121.78) are expected to repel near term dips.”
Key Quotes
“The latest BOJ Tankan shows expectations for average CPI inflation unchanged at +1.4% while new BOJ board member Funo also stated that exchange rates are decided by markets. These headlines, together with stable investor risk appetite, make for a supported tone for the USD-JPY.”
“On the top side, 124.40 may limit on initial tests higher while 122.00 and the 55-day MA (121.78) are expected to repel near term dips.”