Thursday, November 12, 2015

USD/JPY carving a base around 122.75/50 – OCBC

FXStreet (Edinburgh) - In the view of FX Strategist at OCBC Bank Emmanuel Ng, USD/JPY could be looking to base in the 122.75/50 band.

Key Quotes

“The better than expected Japanese September machinery orders (+7.5% mom) may discourage near term upside test pending further US-centric cues”.

“In the interim, we look for some base building around the 122.50-122.75 area ahead of the deluge of Fed speak later in the global day”.
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