12 May 2015
USD/JPY supported by US yields – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects USD/JPY to maintain an intraday range of 119.90 – 120.50/70.
Key Quotes
“Background support for the greenback from US yields may continue to prop up the USD-JPY in the near term, with the Fed’s Williams also noting that the prospect of a rate increase are “on the table at every meeting”.”
“Initial support is expected into the 55-day MA (119.90) with resistance expected towards 120.50/70 intra-day.”
Key Quotes
“Background support for the greenback from US yields may continue to prop up the USD-JPY in the near term, with the Fed’s Williams also noting that the prospect of a rate increase are “on the table at every meeting”.”
“Initial support is expected into the 55-day MA (119.90) with resistance expected towards 120.50/70 intra-day.”