13 Jan 2015
USD/JPY might move towards 116.85 - OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects USD/JPY to head towards 116.85 levels if the pair breaks below 117.77.
Key Quotes
"This morning, Japan’s adjusted November current account surplus came in at a larger than expected JPY914.5bn and this may work its way towards a heavy USD-JPY in the current environment. The 55-day MA (117.77) may attempt to impede on the downside but a breach is expected to open the way to 116.85."
Key Quotes
"This morning, Japan’s adjusted November current account surplus came in at a larger than expected JPY914.5bn and this may work its way towards a heavy USD-JPY in the current environment. The 55-day MA (117.77) may attempt to impede on the downside but a breach is expected to open the way to 116.85."