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USD/JPY points to 110.00 – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the pair heading towards the psychological 110.00 handle in the near term.

Key Quotes

USD-JPY touched a high of 109.75 on Monday before consolidating slightly lower while US August personal spending/income data may continue to provide underlying support for the pair barring any further deterioration of global risk appetite levels”.

“Look also towards the 3Q Tankannumbers late Tuesday with markets looking for a further weakening of the headline numbers”.

“In the interim, we reiterate that the pair may attempt to creep towards the pivotal and psychological line in the sand at 110.00 this week if USD strength is US-centric instead of risk appetite driven”.

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