USD/JPY could test 118.50 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the possibility that USD/JPY could visit the mid-118.00s.

Key Quotes

“Although comments from the BOJ’s Kuroda on Monday roved sufficiently dovish (won’t hesitate to adjust policy if needed), risk aversion considerations in the immediate term”.

“In this environment, a sustained break below 120.00 may potentially sink the pair towards 118.60”.