Flash: USD/JPY to base build off the 55-day MA (98.45) – OCBC Bank

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank notes that despite chatter created by two Fed working papers arguing for a raising of the bar with respect to tightening monetary policy, positive risk appetite developments on Wednesday continued to keep the USD/JPY supported.

Key Quotes

“On the technical front, we think the pair is attempting to base build off the 55-day MA (98.45)with 99.00 the next upside objective.”