10 Jul 2014
USD/JPY: Continue to fade rallies - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, suggests to continue to fade upticks in USD/JPY short term.
Key Quotes
"Continue to fade upticks in the pair in the near term given that the greenback remains out of favor. Expect the 200-day MA (101.87) to continue to loom above the pair while near term risks may remain skewed towards another test of the 101.20 neighborhood. Apart from dollar dynamics, we would also look towards risk appetite impacts from the busy data/event calendar today."
Key Quotes
"Continue to fade upticks in the pair in the near term given that the greenback remains out of favor. Expect the 200-day MA (101.87) to continue to loom above the pair while near term risks may remain skewed towards another test of the 101.20 neighborhood. Apart from dollar dynamics, we would also look towards risk appetite impacts from the busy data/event calendar today."