Disappointing Q3 GDP to keep USD/JPY afloat – OCBC

FXStreet (Barcelona) - Analysts at OCBC Bank note that the disappointing Q3 GDP numbers at -0.5%qoq will keep the USD/JPY pair afloat.

Key Quotes

“Early on Monday in Asia, Japan’s 3Q GDP numbers disappointed with a -0.5% qoq sa print out and this should serve to keep the USD-JPY afloat. On the CFTC front, leveraged net yen shorts increased in the latest week and the pair may attempt to search higher ahead of next week’s FOMC. “