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23 Jan 2015
USD/JPY may remain top heavy - OCBC Bank
FXStreet (Barcelona) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the USD/JPY pair might anchor itself near 118.50 levels, anticipating the pair to remain top heavy in the interim.
Key Quotes
"USD-JPY however may be slightly staid in the near term on the back of the soft JPY-crosses, with the 55-day MA (118.50) likely to act as a near term anchor. On the downside, 117.60 should cushion on dips if interest rate differentials manage to continue to hold steady in the near term. We stay top heavy on the pair in the interim."
Key Quotes
"USD-JPY however may be slightly staid in the near term on the back of the soft JPY-crosses, with the 55-day MA (118.50) likely to act as a near term anchor. On the downside, 117.60 should cushion on dips if interest rate differentials manage to continue to hold steady in the near term. We stay top heavy on the pair in the interim."