7 May 2014
USD/JPY vulnerable to further downside - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, suspects that the USD/JPY may still suffer from further losses near term.
Key Quotes
"USD-JPY sank below 101.80 on Tuesday as dollar weakness spread and UST yield inched lower while the BOJ MPC minutes this morning had little indelible effect on the pair."
"With the dollar landscape looking increasingly negative (pending Yellen tonight), prospects for the USD-JPY may also be looking increasingly heavy at this juncture. If 101.50 is violated, the pair may succumb to gravity, with the 200-day MA (101.06) next up."
Key Quotes
"USD-JPY sank below 101.80 on Tuesday as dollar weakness spread and UST yield inched lower while the BOJ MPC minutes this morning had little indelible effect on the pair."
"With the dollar landscape looking increasingly negative (pending Yellen tonight), prospects for the USD-JPY may also be looking increasingly heavy at this juncture. If 101.50 is violated, the pair may succumb to gravity, with the 200-day MA (101.06) next up."