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14 May 2015
USD/JPY capped at 120.00 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, views that USD/JPY will remain under pressure as Dollar weakness continues.
Key Quotes
“With the BOJ’s Kuroda remaining sanguine with respect to the economic prognosis, a weak broad dollar undertone may imply continued heaviness for the USD-JPY. With 120.00 now functioning as a near term cap, if the pair tips below 119.00, expect initial support towards 118.50/70.”
Key Quotes
“With the BOJ’s Kuroda remaining sanguine with respect to the economic prognosis, a weak broad dollar undertone may imply continued heaviness for the USD-JPY. With 120.00 now functioning as a near term cap, if the pair tips below 119.00, expect initial support towards 118.50/70.”