7 Sep 2015
USD/JPY faces strong resistance at 120.00/80
FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, USD/JPY upside could be facing a tough hurdle around 120.00/80 band.
Key Quotes
“With the risk appetite environment still looking uncertain, expect the pair to remain top-heavy in the near term”.
“To this end, expect 120.00 and the 200-day MA (120.81) resistance levels to be well defended with risks we think still oriented towards a breach of 119.00”.
Key Quotes
“With the risk appetite environment still looking uncertain, expect the pair to remain top-heavy in the near term”.
“To this end, expect 120.00 and the 200-day MA (120.81) resistance levels to be well defended with risks we think still oriented towards a breach of 119.00”.