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Forex Flash: 100 barrier looks tempting for USD/JPY - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that while the 100.00 barrier may look increasingly tempting for USD/JPY in the near term, some room for consolidation after the price action over the last few sessions cannot be ruled out.

To this end, buying interest may re-emerge on any dips to the 98.00 region. Shifting to AUD/USD, he adds that the firmness of the antipodeans against JPY may also continue to see these two currencies hold their own against USD in the near term. Ng writes, “Meanwhile, the NZD may also continue to garner marginal support after the RBNZ’s concerns about an overheating housing market, stoking hawkish expectations. Meanwhile, we look for continued range bound behavior to with base building behavior in the vicinity of 1.0390-1.0430.”

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