FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the upside in USD/JPY facing strong resistance in the 120.80 area so far.
Key Quotes
“A better looking risk appetite landscape may keep the pair supported via the JPY-crosses in spite of the dollar’s near term vulnerability”.
“Immediate resistance continues to rest at the 200-day MA (120.84) before 121.00 while supports are seen on approach of 120.00 ahead of 119.80”.
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