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USD/JPY appears supported at 118.80 – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng noted the pair remains well supported around 118.80 for the time being.

Key Quotes

“Comments from the BOJ’s Kuroda this morning remained non-committal with the governor also appearing fairly sanguine with respect to the improvement in inflation last Friday”.

“Expect range bound (to slightly top heavy behavior) to persist with support seen towards 118.80 while the 200-day MA (120.90) may continue to cap is BOJ easing expectations at the end of this month remain contained”.

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