9 Jun 2015
USD/JPY might attempt to base around 124 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects USD/JPY to stay reactive to any Dollar moves, and remain in a 124-126 range in the interim.
Key Quotes
“With Japan’s Economy Minister Amari indicating that it was up to the markets to determine if currencies were moving in line with fundamentals, expect USD-JPY to remain reactive to global dollar cues going ahead. In the interim, the pair may attempt to base build around 124.00 with 125.30 and 126.00 providing shelter above.”
Key Quotes
“With Japan’s Economy Minister Amari indicating that it was up to the markets to determine if currencies were moving in line with fundamentals, expect USD-JPY to remain reactive to global dollar cues going ahead. In the interim, the pair may attempt to base build around 124.00 with 125.30 and 126.00 providing shelter above.”