10 Jul 2015
USD/JPY might remain in the 121.00-122.60 range – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects USD/JPY to remain in the 121.00-122.60 range for now, with improving risk appetite supporting the pair.
Key Quotes
“Despite higher than expected US weekly initial claims numbers, USD-JPY pushed higher on the back of improved risk appetite on Thursday and the pair may remain supported in the interim. An immediate range of 121.00-122.60 may prevail at this juncture. On a structural basis, the latest rejection of the 120.00 zone keeps the pair within a multi-month ascending channel and the pair may continue to manifest the policy dichotomy between the Fed and the BOJ in the coming months.”
Key Quotes
“Despite higher than expected US weekly initial claims numbers, USD-JPY pushed higher on the back of improved risk appetite on Thursday and the pair may remain supported in the interim. An immediate range of 121.00-122.60 may prevail at this juncture. On a structural basis, the latest rejection of the 120.00 zone keeps the pair within a multi-month ascending channel and the pair may continue to manifest the policy dichotomy between the Fed and the BOJ in the coming months.”