22 Jan 2015
USD/JPY might remain top heavy in the interim – OCBC
FXStreet (Barcelona) - According to OCBC Bank, USD/JPY may remain top heavy in the interim with 118.42 levels having repelled recent advances.
Key Quotes
“The BOJ’s Monthly Economic Report is due today but domestic JPY cues will likely be sidelined intra-day ahead of the ECB and post BOC. In the interim, the pair may remain top heavy with the 55-day MA (118.42) having repelled recent challenges while 117.30/50 may cushion pending further external cues.”
Key Quotes
“The BOJ’s Monthly Economic Report is due today but domestic JPY cues will likely be sidelined intra-day ahead of the ECB and post BOC. In the interim, the pair may remain top heavy with the 55-day MA (118.42) having repelled recent challenges while 117.30/50 may cushion pending further external cues.”