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USD/JPY upside appears limited at 120.00 – OCBC

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair’s upside might struggle to overcome 120.00 in the near term.

Key Quotes

USD dynamics may continue to guide the USD-JPY in the near term despite the BOJ leaving unchanged its fairly sanguine outlook across the domestic regions”.

“Look to the scheduled appearance by the Fed’s Yellen (1500 GMT) for immediate cues. In the interim, 120.00 may cap initial moves higher with support seen towards 118.90”.

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