Back
2 Apr 2015
USD/JPY: investors might continue to fade any upticks – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, notes that USD/JPY upticks might continue to be sold, with the next support at 119.29.
Key Quotes
“Despite the 1Q Tankan, easier UST yields pulled the USDJPY back below intra-day highs above 120.00 on Wednesday.”
“Although a closer look beyond the Tankan headlines show that inflation expectations have not been ratcheted higher but broader dollar dynamics may dominate in the near term i.e., investors may continue to fade upticks in USD-JPY with the nearest significant waypoint expected at the 55-day MA (119.29).”
Key Quotes
“Despite the 1Q Tankan, easier UST yields pulled the USDJPY back below intra-day highs above 120.00 on Wednesday.”
“Although a closer look beyond the Tankan headlines show that inflation expectations have not been ratcheted higher but broader dollar dynamics may dominate in the near term i.e., investors may continue to fade upticks in USD-JPY with the nearest significant waypoint expected at the 55-day MA (119.29).”