USD/JPY well supported around 118.60 – OCBC

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the area around 118.60 could provide decent support in the pair for the time being.

Key Quotes

“A mixed to heavy undertone for USD-JPY may persist with near term support seen at around 118.60 although JPY underperformance on the crosses may invite bottom picking in the pair”.

“At this juncture, 120.00 may prove to be a hard-top barring headline risks”.