30 Jan 2015
USD/JPY expected to stay in the range - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects USD/JPY to remain top heavy and trade in the 118.70-117.30 range.
Key Quotes
"December 2014 (core) CPI numbers this morning came in a touch below expectations but the US GDP numbers later in the global day may hold more sway over the market.”
“More range trading to top-heavy behavior is expected in the interim with the 55-day MA (118.70) an initial ceiling while 117.30 may cushion on initial dips.”
Key Quotes
"December 2014 (core) CPI numbers this morning came in a touch below expectations but the US GDP numbers later in the global day may hold more sway over the market.”
“More range trading to top-heavy behavior is expected in the interim with the 55-day MA (118.70) an initial ceiling while 117.30 may cushion on initial dips.”