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USD/JPY rangebound within 118.60-120.90 – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng expects USD/JPY to remain in a consolidative range between 118.60 and 120.90.

Key Quotes

“Look to the 3Q 15 Tankan late Wed/early Thursday with the surprise -0.5% mom contraction in Aug industrial production likely to keep the pair supported within a 118.60-120.90 range barring a further meltdown in risk appetite”.

“In the interim, any sustained departure from the 120.00 handle may require either risk appetite or USD-centric headlines”.

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