USD/JPY now looks to 124.00 – OCBC Bank

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the pair could be poised for another visit to the 124.00 area.

Key Quotes

“The recovery in risk appetite levels coupled with the increasing focus on Yellen tomorrow (note the supportive tone from the rate differential front) may keep the USD-JPY aloft in the near term”.

“After having left the 55-day MA (122.24) behind, note that the 124.00 resistance is now in plain sight”.