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May 30, 2013
Flash: USD/JPY consolidative post Nikkei decline - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that USD/JPY is in consolidative mode while AUD/USD can see some tender support.
He begins with USD/JPY, commenting that in the near term, he is looking for some consolidative behavior as market participants reassess dollar developments while the Nikkei’s performance will also be watched for near term cues. He writes, “In the interim, expect the pair to be helmed by the century mark and then the 55-day MA (98.47) while the 103.75 neighborhood is expected to cap for now.”
He begins with USD/JPY, commenting that in the near term, he is looking for some consolidative behavior as market participants reassess dollar developments while the Nikkei’s performance will also be watched for near term cues. He writes, “In the interim, expect the pair to be helmed by the century mark and then the 55-day MA (98.47) while the 103.75 neighborhood is expected to cap for now.”