USD/JPY could remain parked near 124.00 – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the pair keeping the comfort zone around the 124.00 mark.

Key Quotes

“USD-JPY may remain in stasis in the near term and station itself in the 124.00 neighborhood ahead of the significant event risks in the latter part of the week”.

“Barring a further meltdown in global risk appetite levels, the pair may remain supported on dips towards the 55-day MA (123.38) with initial resistance expected into 124.85”.