FXstreet.com (Barcelona) – Emmanuel Ng of OCBC Bank notes that his view for USD/JPY remains unchanged and the pair may remain pulled in opposing directions.
“Potential heavy JPY-crosses (is) likely to dominate on acute risk aversion, while any dollar resilience may shine through if Fed taper dynamics re-assert their influence.”
“On the topside, the 55-day MA (98.46) may put up initial resistance on upticks before 98.80 and the pair may continue to base build around current levels on a further close above the 98.00 floor.”
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