Flash: USD/JPY continues to be under pressure – OCBC

FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank suggests that the softer US yields continued to pressure the USD/JPY and US data releases this week may continue to have a significant bearing on the pair in the near term.

Key Quotes


“On the policy front, Japanese monetary policy is expected to stay the course with the BOJ’s Iwata pledging to take necessary action if the 2% inflation goal is compromised. In the near term, the USD/JPY may run into resistance at the 55-day MA (98.27) with 97.50 expected to offer initial support on dips.”