12 Jan 2015
USD/JPY to continue to remain heavy – OCBC
FXStreet (Barcelona) - According to OCBC Bank, the dovish views from Fed’s Lockhart and Evans will continue to keep USD/JPY heavy, with the key 120.00 level now serving as a resistance.
Key Quotes
“TKY is away today for a long weekend and the pair may remain heavy, especially with latest dovish rhetoric from the Fed’s Lockhart and Evans (both voters in 2015). The 55-day MA (117.60) may continue to beckon with net leveraged CFTC JPY shorts being pared in the latest week while 120.00 is expected to serve as a key resistance.”
Key Quotes
“TKY is away today for a long weekend and the pair may remain heavy, especially with latest dovish rhetoric from the Fed’s Lockhart and Evans (both voters in 2015). The 55-day MA (117.60) may continue to beckon with net leveraged CFTC JPY shorts being pared in the latest week while 120.00 is expected to serve as a key resistance.”