Forex Flash: USD/JPY may shrug off downside probes post G20 - OCBC Bank

Emmanuel Ng of OCBC Bank notes that post G20, USD/JPY may continue to reject strong downside probes ahead of the probable announcement of the next BOJ governor with topside resistance expected at 95.00 and then at 95.35.

He writes, “Meanwhile, key support for the pair is not expected till 91.00. Net speculative JPY shorts on the CFTC front were pared in the latest week but this is not expected to impart much downside potential at this juncture.”