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Buy the dips in USD/JPY – OCBC

FXStreet (Edinburgh) - FX Strategist at OCBC Bank Emmanuel Ng sees USD/JPY well supported around 121.70.

Key Quotes

“With Fed rhetoric overnight offering enough to sustain expectations of a December liftoff, the pair may continue to bounce on dips despite attempting to fill its NFP-induced gap”.

“Sub-122.00, look to the 100- day MA (121.74) to support while consolidation may kick in on approach of 123.00 pending further USD-inspired cues”.

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