20 Nov 2015
USD/JPY: support expected at 121.75 – OCBC
FXStreet (Edinburgh) - In the view of Emmanuel Ng, FX Strategist at OCBC Bank, spot could find good support around 121.75.
Key Quotes
"A better than expected November Philly Fed and an as expected drop in initial claims failed to support the USD against the JPY”.
“Meanwhile, the BOJ also remained static as expected at its MPC, lending further support to the JPY at the margins. The pair may therefore continue to be reluctant to make a run above the 124.00 in the short term with the 100- day MA (121.76) expected to offer interim support
Key Quotes
"A better than expected November Philly Fed and an as expected drop in initial claims failed to support the USD against the JPY”.
“Meanwhile, the BOJ also remained static as expected at its MPC, lending further support to the JPY at the margins. The pair may therefore continue to be reluctant to make a run above the 124.00 in the short term with the 100- day MA (121.76) expected to offer interim support