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Forex Flash: USD/JPY may remain trapped in near term limbo - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank suspects that USD/JPY may remain trapped in limbo for the near term.

He see this comes amidst the e G20 meetings and barring a further implosion in risk appetite levels, any further consolidation south may be stonewalled by the 55-day MA (94.82) although 100.00 up top remains a solid resistance for now. Looking to AUD/USD, he reiterates that he remains suspicious of AUD prospects amid commodity and global macro cues and if the pair loses its foothold at 1.0300, a dip towards 1.0200 and then 1.0165 cannot be ruled out multi session.

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